Packaging Corporation of America (NYSE:PKG – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $259.00 and last traded at $256.6560, with a volume of 18113 shares changing hands. The stock had previously closed at $257.43.
Analysts Set New Price Targets
A number of research firms have issued reports on PKG. Truist Financial raised their target price on Packaging Corporation of America from $258.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Wells Fargo & Company reissued 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. Citigroup raised their price objective on shares of Packaging Corporation of America from $241.00 to $254.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and upped their target price for the company from $225.00 to $256.00 in a research note on Monday, May 4th. Finally, UBS Group dropped their price objective on shares of Packaging Corporation of America from $272.00 to $271.00 and set a “buy” rating on the stock in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Packaging Corporation of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.57.
Read Our Latest Stock Report on PKG
Packaging Corporation of America Stock Performance
Packaging Corporation of America (NYSE:PKG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.96%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. Sell-side analysts predict that Packaging Corporation of America will post 10.48 earnings per share for the current year.
Insider Activity at Packaging Corporation of America
In other Packaging Corporation of America news, President Thomas A. Hassfurther sold 12,531 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $250.00, for a total value of $3,132,750.00. Following the sale, the president directly owned 218,751 shares in the company, valued at $54,687,750. This represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark W. Kowlzan sold 9,266 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $217.08, for a total value of $2,011,463.28. Following the transaction, the chief executive officer owned 473,610 shares of the company’s stock, valued at $102,811,258.80. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,657 shares of company stock valued at $9,199,044 in the last 90 days. 1.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Packaging Corporation of America
Several institutional investors and hedge funds have recently made changes to their positions in PKG. Vanguard Group Inc. boosted its position in Packaging Corporation of America by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 11,279,442 shares of the industrial products company’s stock valued at $2,326,159,000 after buying an additional 51,790 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Packaging Corporation of America in the 2nd quarter worth approximately $1,837,506,000. State Street Corp boosted its holdings in shares of Packaging Corporation of America by 1.3% in the 4th quarter. State Street Corp now owns 4,185,761 shares of the industrial products company’s stock worth $868,349,000 after acquiring an additional 54,884 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Packaging Corporation of America by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,505 shares of the industrial products company’s stock worth $717,372,000 after acquiring an additional 83,978 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Packaging Corporation of America by 7.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,316,670 shares of the industrial products company’s stock valued at $683,997,000 after purchasing an additional 231,474 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Packaging Corporation of America
- CoreWeave’s $129 Billion AI Backlog Changes the Bull Case
- Tesla’s Robotaxi Reality Check: Time to Deliver
- Hims & Hers’ Revenue Beat Came With a Profitability Problem
- A Westinghouse IPO Could Reset the Nuclear Stock Conversation
Receive News & Ratings for Packaging Corporation of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corporation of America and related companies with MarketBeat.com's FREE daily email newsletter.
