Packaging Corporation of America $PKG Stock: State of Alaska Department of Revenue Increases Stake

State of Alaska Department of Revenue boosted its holdings in Packaging Corporation of America (NYSE:PKG) by 117.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,891 shares of the industrial products company’s stock after buying an additional 10,215 shares during the period. State of Alaska Department of Revenue’s holdings in Packaging Corporation of America were worth $4,330,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PKG. BlackRock Inc. purchased a new stake in Packaging Corporation of America during the 2nd quarter valued at approximately $1,837,506,000. Bank of New York Mellon Corp purchased a new position in shares of Packaging Corporation of America in the second quarter worth $748,095,000. Royal Bank of Canada boosted its position in shares of Packaging Corporation of America by 25.2% during the first quarter. Royal Bank of Canada now owns 2,323,010 shares of the industrial products company’s stock worth $492,990,000 after acquiring an additional 467,590 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Packaging Corporation of America during the second quarter worth $379,568,000. Finally, Atlas FRM LLC purchased a new position in Packaging Corporation of America during the second quarter valued at $365,164,100. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other Packaging Corporation of America news, President Thomas Hassfurther sold 7,063 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following the completion of the sale, the president directly owned 202,891 shares of the company’s stock, valued at approximately $51,534,314. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald Shirley sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the completion of the sale, the vice president owned 19,110 shares of the company’s stock, valued at approximately $4,791,068.10. This trade represents a 38.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,391 shares of company stock valued at $10,196,101 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PKG shares. Truist Financial lifted their target price on Packaging Corporation of America from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Wells Fargo & Company decreased their target price on shares of Packaging Corporation of America from $246.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. UBS Group dropped their price target on Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. lifted their price target on Packaging Corporation of America from $312.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Packaging Corporation of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.86.

Packaging Corporation of America Trading Up 1.4%

Shares of NYSE PKG traded up $3.34 during mid-day trading on Friday, reaching $235.92. The company had a trading volume of 917,375 shares, compared to its average volume of 553,159. The stock has a market cap of $21.02 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 2.00 and a beta of 0.75. Packaging Corporation of America has a 52 week low of $191.50 and a 52 week high of $259.98. The business’s 50-day moving average is $238.41 and its 200-day moving average is $229.72. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company posted $2.48 EPS. Packaging Corporation of America’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. Equities analysts expect that Packaging Corporation of America will post 10.45 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Packaging Corporation of America’s payout ratio is presently 77.92%.

Packaging Corporation of America Profile

Packaging Corporation of America (NYSE: PKG) is a manufacturer of containerboard and corrugated packaging products in the United States. The company produces linerboard, corrugating medium and finished corrugated containers used to package and transport consumer, industrial, food and agricultural products.

PCA also manufactures specialty packaging products, including retail displays, protective packaging and custom-designed corrugated solutions. Through its Paper segment, the company produces and sells uncoated freesheet paper and related specialty papers for commercial printing, office use, converting and other applications.