Sound Shore Management Inc. CT Takes $11.62 Million Position in Packaging Corporation of America $PKG

Sound Shore Management Inc. CT purchased a new position in Packaging Corporation of America (NYSE:PKG) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 54,750 shares of the industrial products company’s stock, valued at approximately $11,619,000.

Several other hedge funds have also modified their holdings of PKG. Parallel Advisors LLC lifted its position in Packaging Corporation of America by 15.4% during the first quarter. Parallel Advisors LLC now owns 659 shares of the industrial products company’s stock valued at $140,000 after purchasing an additional 88 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Packaging Corporation of America during the first quarter valued at approximately $4,897,000. Swiss National Bank increased its stake in Packaging Corporation of America by 7.1% in the first quarter. Swiss National Bank now owns 264,100 shares of the industrial products company’s stock worth $56,047,000 after purchasing an additional 17,500 shares during the period. Heartland Advisors Inc. increased its stake in Packaging Corporation of America by 14.5% in the 1st quarter. Heartland Advisors Inc. now owns 44,805 shares of the industrial products company’s stock worth $9,509,000 after buying an additional 5,660 shares during the period. Finally, Bartlett & CO. Wealth Management LLC increased its position in shares of Packaging Corporation of America by 230.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 720 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 502 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PKG. Citigroup lifted their price objective on Packaging Corporation of America from $229.00 to $241.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Bank of America increased their price objective on Packaging Corporation of America from $242.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $246.00 price objective (up from $245.00) on shares of Packaging Corporation of America in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft raised Packaging Corporation of America from a “hold” rating to a “buy” rating and lifted their price target for the stock from $225.00 to $256.00 in a research report on Monday, May 4th. Finally, UBS Group upgraded shares of Packaging Corporation of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $232.00 to $248.00 in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Packaging Corporation of America presently has a consensus rating of “Moderate Buy” and an average price target of $256.14.

Packaging Corporation of America Stock Performance

Shares of PKG stock opened at $233.11 on Monday. The company has a market capitalization of $20.77 billion, a P/E ratio of 28.36, a P/E/G ratio of 2.17 and a beta of 0.80. Packaging Corporation of America has a 12-month low of $189.03 and a 12-month high of $249.51. The business’s 50 day moving average is $225.84 and its two-hundred day moving average is $221.87. The company has a current ratio of 3.07, a quick ratio of 1.88 and a debt-to-equity ratio of 0.87.

Packaging Corporation of America (NYSE:PKG) last announced its earnings results 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm posted $2.31 EPS. 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. Analysts expect that Packaging Corporation of America will post 10.46 EPS for the current fiscal year.

Packaging Corporation of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a dividend of $1.50 per share. This is a boost from Packaging Corporation of America’s previous quarterly dividend of $1.25. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, June 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 72.99%.

Insider Transactions at Packaging Corporation of America

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

Packaging Corporation of America Company 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.