OLD National Bancorp IN Reduces Stock Holdings in Packaging Corporation of America $PKG

OLD National Bancorp IN lowered its stake in shares of Packaging Corporation of America (NYSE:PKG) by 11.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,135 shares of the industrial products company’s stock after selling 2,011 shares during the quarter. OLD National Bancorp IN’s holdings in Packaging Corporation of America were worth $2,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Merit Financial Group LLC raised its stake in Packaging Corporation of America by 169.1% during the 1st quarter. Merit Financial Group LLC now owns 4,661 shares of the industrial products company’s stock worth $923,000 after acquiring an additional 2,929 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of Packaging Corporation of America during the first quarter worth about $223,000. Sivia Capital Partners LLC acquired a new stake in shares of Packaging Corporation of America during the first quarter worth about $244,000. Miracle Mile Advisors LLC lifted its holdings in shares of Packaging Corporation of America by 12.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,097 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 118 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Packaging Corporation of America by 9.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 31,970 shares of the industrial products company’s stock valued at $6,331,000 after purchasing an additional 2,844 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PKG shares. UBS Group lifted their price target on Packaging Corporation of America from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Jefferies Financial Group cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and cut their target price for the company from $245.00 to $205.00 in a report on Monday, June 16th. Citigroup upped their price target on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company raised their price objective on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Zacks Research raised shares of Packaging Corporation of America from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $223.83.

Insider Buying and Selling

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 25,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total transaction of $5,399,250.00. Following the sale, the chief executive officer directly owned 437,378 shares in the company, valued at approximately $94,460,526.66. The trade was a 5.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

Packaging Corporation of America Trading Down 0.4%

Shares of Packaging Corporation of America stock opened at $214.75 on Monday. Packaging Corporation of America has a 52-week low of $172.71 and a 52-week high of $250.82. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 0.54. The company’s 50-day simple moving average is $208.05 and its 200-day simple moving average is $197.90. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. As a group, equities research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $1.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.00 annualized dividend and a yield of 2.3%. Packaging Corporation of America’s dividend payout ratio is presently 49.90%.

Packaging Corporation of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.