Heartland Advisors Inc. bought a new position in Packaging Corporation of America (NYSE:PKG – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund bought 41,808 shares of the industrial products company’s stock, valued at approximately $9,962,000.
A number of other institutional investors have also made changes to their positions in PKG. Integrated Wealth Concepts LLC lifted its stake in Packaging Corporation of America by 73.5% during the first quarter. Integrated Wealth Concepts LLC now owns 2,956 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 1,252 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Packaging Corporation of America by 538.6% during the first quarter. Empowered Funds LLC now owns 6,303 shares of the industrial products company’s stock worth $1,248,000 after purchasing an additional 5,316 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Packaging Corporation of America by 40.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after buying an additional 57 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Packaging Corporation of America by 43.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,770 shares of the industrial products company’s stock worth $334,000 after buying an additional 537 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in shares of Packaging Corporation of America by 17.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,772 shares of the industrial products company’s stock valued at $336,000 after buying an additional 258 shares during the period. 89.78% of the stock is currently owned by institutional investors.
Insider Transactions at Packaging Corporation of America
In other Packaging Corporation of America news, President Thomas A. Hassfurther sold 7,063 shares of the business’s 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 sale, the president directly owned 202,891 shares in the company, valued at approximately $51,534,314. The trade was a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark W. Kowlzan sold 9,266 shares of the company’s stock in a transaction that occurred 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 directly owned 473,610 shares of the company’s stock, valued at approximately $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 worth $9,199,044 over the last 90 days. 1.60% of the stock is owned by insiders.
Packaging Corporation of America Trading Up 1.4%
Packaging Corporation of America (NYSE:PKG – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.49 billion for 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 18.94%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. Equities analysts predict that Packaging Corporation of America will post 10.48 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on PKG shares. Truist Financial raised their price target on Packaging Corporation of America from $258.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings downgraded shares of Packaging Corporation of America from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Citigroup upped their price target on shares of Packaging Corporation of America from $241.00 to $254.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Packaging Corporation of America from $269.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company reiterated 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Packaging Corporation of America has an average rating of “Moderate Buy” and a consensus price target of $264.57.
Packaging Corporation of America 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.
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