Ascent Group LLC Sells 2,089 Shares of Packaging Corporation of America $PKG

Ascent Group LLC cut its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 14.8% during the second quarter, Holdings Channel.com reports. The firm owned 12,021 shares of the industrial products company’s stock after selling 2,089 shares during the period. Ascent Group LLC’s holdings in Packaging Corporation of America were worth $2,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Forza Wealth Management LLC lifted its position in Packaging Corporation of America by 2.8% during the second quarter. Forza Wealth Management LLC now owns 2,076 shares of the industrial products company’s stock valued at $391,000 after acquiring an additional 56 shares during the last quarter. Manchester Capital Management LLC lifted its position in Packaging Corporation of America by 39.0% during the first quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 57 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Packaging Corporation of America by 40.4% during the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in Packaging Corporation of America by 72.2% during the second quarter. Bruce G. Allen Investments LLC now owns 136 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 57 shares during the last quarter. Finally, Cary Street Partners Financial LLC lifted its position in Packaging Corporation of America by 0.7% during the first quarter. Cary Street Partners Financial LLC now owns 8,759 shares of the industrial products company’s stock valued at $1,735,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Packaging Corporation of America from $238.00 to $262.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. UBS Group increased their target price on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the company 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 decreased their price target for the stock from $245.00 to $205.00 in a report on Monday, June 16th. JPMorgan Chase & Co. began coverage on shares of Packaging Corporation of America in a report on Wednesday, September 24th. They issued an “overweight” rating and a $242.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Packaging Corporation of America in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.83.

Insider Buying and Selling at Packaging Corporation of America

In other news, CEO Mark W. Kowlzan sold 25,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total value of $5,399,250.00. Following the sale, the chief executive officer owned 437,378 shares in the company, valued at $94,460,526.66. This represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Packaging Corporation of America Stock Down 0.4%

NYSE:PKG opened at $214.75 on Friday. The firm has a market capitalization of $19.32 billion, a P/E ratio of 21.43, a PEG ratio of 1.84 and a beta of 0.91. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82. The company’s fifty day moving average price is $208.05 and its 200-day moving average price is $197.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.54 and a quick ratio of 2.32.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. 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 EPS 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. Stockholders of record on Monday, September 15th will be paid a $1.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. Packaging Corporation of America’s dividend payout ratio is presently 49.90%.

About Packaging Corporation of America

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.