Millennium Management LLC Acquires 1,047,902 Shares of Packaging Corporation of America $PKG

Millennium Management LLC lifted its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 223.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,516,562 shares of the industrial products company’s stock after acquiring an additional 1,047,902 shares during the quarter. Millennium Management LLC’s holdings in Packaging Corporation of America were worth $330,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. World Investment Advisors raised its holdings in Packaging Corporation of America by 4.1% during the 3rd quarter. World Investment Advisors now owns 1,279 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 50 shares during the period. Argent Advisors Inc. lifted its position in shares of Packaging Corporation of America by 1.9% during the third quarter. Argent Advisors Inc. now owns 2,852 shares of the industrial products company’s stock worth $622,000 after acquiring an additional 52 shares in the last quarter. Eastern Bank boosted its holdings in shares of Packaging Corporation of America by 11.0% in the third quarter. Eastern Bank now owns 555 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 55 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Packaging Corporation of America by 40.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 197 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 57 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 57 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Insider Activity

In other news, President Thomas A. Hassfurther sold 12,129 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $230.50, for a total transaction of $2,795,734.50. Following the completion of the transaction, the president owned 197,062 shares of the company’s stock, valued at approximately $45,422,791. The trade was a 5.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PKG. JPMorgan Chase & Co. boosted their price objective on Packaging Corporation of America from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Truist Financial reduced their target price on Packaging Corporation of America from $273.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Argus upgraded Packaging Corporation of America to a “strong-buy” rating in a research report on Thursday, February 26th. UBS Group increased their price target on shares of Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company raised their price objective on shares of Packaging Corporation of America from $233.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.00.

Packaging Corporation of America Trading Up 0.6%

Packaging Corporation of America stock opened at $215.80 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.94 and a current ratio of 3.17. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $249.51. The stock has a market cap of $19.25 billion, a P/E ratio of 25.18, a PEG ratio of 1.65 and a beta of 0.87. The firm’s fifty day moving average price is $226.66 and its 200-day moving average price is $213.62.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.41 by ($0.09). Packaging Corporation of America had a net margin of 8.61% and a return on equity of 19.22%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business posted $2.47 EPS. Packaging Corporation of America’s quarterly revenue was up 10.1% on a year-over-year basis. Packaging Corporation of America has set its Q1 2026 guidance at 2.200-2.20 EPS. Equities research analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. Packaging Corporation of America’s dividend payout ratio (DPR) is 58.34%.

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.