Summit Financial Strategies Inc. Acquires 2,404 Shares of Packaging Corporation of America $PKG

Summit Financial Strategies Inc. grew its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 1.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 245,657 shares of the industrial products company’s stock after purchasing an additional 2,404 shares during the period. Packaging Corporation of America comprises approximately 4.1% of Summit Financial Strategies Inc.’s holdings, making the stock its 9th largest holding. Summit Financial Strategies Inc.’s holdings in Packaging Corporation of America were worth $52,133,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Packaging Corporation of America in the fourth quarter valued at about $237,649,000. Millennium Management LLC boosted its position in Packaging Corporation of America by 223.6% during the third quarter. Millennium Management LLC now owns 1,516,562 shares of the industrial products company’s stock valued at $330,504,000 after purchasing an additional 1,047,902 shares during the last quarter. Diamant Asset Management Inc. boosted its position in Packaging Corporation of America by 19,710.3% during the first quarter. Diamant Asset Management Inc. now owns 893,446 shares of the industrial products company’s stock valued at $189,607,000 after purchasing an additional 888,936 shares during the last quarter. Victory Capital Management Inc. grew its stake in Packaging Corporation of America by 29.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,309,412 shares of the industrial products company’s stock valued at $476,270,000 after purchasing an additional 521,352 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Packaging Corporation of America by 100.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 983,216 shares of the industrial products company’s stock valued at $202,769,000 after purchasing an additional 492,410 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Packaging Corporation of America

Here are the key news stories impacting Packaging Corporation of America this week:

• Positive Sentiment: JPMorgan Chase & Co. raised its price target on Packaging Corporation of America to $269 from $246 and kept an overweight rating, signaling the most bullish outlook among the recent notes. Packaging Corporation of America (NYSE:PKG) Given New $269.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: Citigroup increased its price target to $241 from $229, while maintaining a neutral rating, suggesting modest upside from current levels. Packaging Corporation of America (NYSE:PKG) Given New $241.00 Price Target at Citigroup
• Neutral Sentiment: Wells Fargo reaffirmed its equal weight rating on PKG and slightly lifted its target to $246 from $245, indicating a largely unchanged view with limited upside. Packaging Corporation of America’s (PKG) “Equal Weight” Rating Reaffirmed at Wells Fargo & Company
• Negative Sentiment: Wells Fargo also downgraded Packaging Corporation of America from overweight to equal weight, which may temper enthusiasm despite the higher target price. Packaging Corporation of America downgraded by Wells Fargo & Company from overweight to equal weight

Packaging Corporation of America Stock Performance

NYSE PKG traded up $4.53 during trading on Friday, reaching $229.02. 597,979 shares of the company’s stock were exchanged, compared to its average volume of 563,975. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.07 and a quick ratio of 1.88. The business has a 50 day moving average price of $225.15 and a 200-day moving average price of $221.02. The stock has a market capitalization of $20.41 billion, a P/E ratio of 27.86, a PEG ratio of 2.14 and a beta of 0.80. Packaging Corporation of America has a fifty-two week low of $189.03 and a fifty-two week high of $249.51.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.23. Packaging Corporation of America had a return on equity of 19.27% and a net margin of 8.04%.The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the firm posted $2.31 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. Sell-side analysts forecast that Packaging Corporation of America will post 10.45 earnings per share for the current fiscal year.

Packaging Corporation of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a $1.50 dividend. This is a boost from Packaging Corporation of America’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, June 15th. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 72.99%.

Analyst Ratings Changes

PKG has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $246.00 price objective (up from $245.00) on shares of Packaging Corporation of America in a research note on Thursday. UBS Group raised shares of Packaging Corporation of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $232.00 to $248.00 in a research note on Wednesday, May 20th. Citigroup boosted their target price on shares of Packaging Corporation of America from $229.00 to $241.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $258.00 price target (down from $260.00) on shares of Packaging Corporation of America in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $225.00 to $256.00 in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Insider Transactions at Packaging Corporation of America

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 9,266 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $217.08, for a total transaction of $2,011,463.28. Following the completion of the sale, the chief executive officer owned 473,610 shares of the company’s stock, valued at $102,811,258.80. This trade represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

About Packaging Corporation of America

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.