Saudi Central Bank Acquires 2,911 Shares of Packaging Corporation of America $PKG

Saudi Central Bank increased its position in Packaging Corporation of America (NYSE:PKG) by 87.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,232 shares of the industrial products company’s stock after purchasing an additional 2,911 shares during the period. Saudi Central Bank’s holdings in Packaging Corporation of America were worth $1,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Greenleaf Trust grew its holdings in Packaging Corporation of America by 1.7% during the 2nd quarter. Greenleaf Trust now owns 2,705 shares of the industrial products company’s stock valued at $645,000 after purchasing an additional 46 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Packaging Corporation of America by 5.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,045 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 52 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Packaging Corporation of America by 2.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,929 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 54 shares during the period. Geneos Wealth Management Inc. boosted its position in Packaging Corporation of America by 40.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 57 shares in the last quarter. Finally, Root Financial Partners LLC grew its stake in Packaging Corporation of America by 28.4% in the first quarter. Root Financial Partners LLC now owns 276 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 61 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of several research analyst reports. Bank of America increased their price objective on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Wells Fargo & Company restated an “equal weight” rating and set a $246.00 price target (up from $245.00) on shares of Packaging Corporation of America in a research report on Thursday, July 9th. Truist Financial boosted their price target on shares of Packaging Corporation of America from $258.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Citigroup lifted their price objective on Packaging Corporation of America from $241.00 to $254.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Packaging Corporation of America from $269.00 to $271.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $264.57.

Packaging Corporation of America Stock Performance

Shares of Packaging Corporation of America stock opened at $232.02 on Wednesday. The business has a 50-day simple moving average of $242.13 and a 200-day simple moving average of $227.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.86 and a current ratio of 2.94. Packaging Corporation of America has a one year low of $191.50 and a one year high of $259.98. The company has a market cap of $20.67 billion, a PE ratio of 30.13, a P/E/G ratio of 2.41 and a beta of 0.78.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.94%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. On average, equities research analysts forecast that Packaging Corporation of America will post 10.48 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.00 annualized dividend and a yield of 2.6%. Packaging Corporation of America’s payout ratio is presently 77.92%.

Insider Buying and Selling

In other news, President Thomas A. Hassfurther sold 12,531 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $250.00, for a total value of $3,132,750.00. Following the completion of the transaction, the president owned 218,751 shares in the company, valued at approximately $54,687,750. This represents a 5.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald R. Shirley sold 12,000 shares of Packaging Corporation of America stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the sale, the vice president owned 19,110 shares in the company, valued at $4,791,068.10. This represents a 38.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,391 shares of company stock valued at $10,196,101 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Packaging Corporation of America Profile

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.