Packaging Corporation of America $PKG Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its position in shares of Packaging Corporation of America (NYSE:PKG) by 20.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,824,807 shares of the industrial products company’s stock after purchasing an additional 308,245 shares during the quarter. Millennium Management LLC’s holdings in Packaging Corporation of America were worth $376,330,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in Packaging Corporation of America during the fourth quarter worth $4,664,000. PNC Financial Services Group Inc. increased its position in Packaging Corporation of America by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 68,314 shares of the industrial products company’s stock worth $14,088,000 after buying an additional 6,257 shares in the last quarter. Channing Capital Management LLC increased its position in Packaging Corporation of America by 8.8% during the third quarter. Channing Capital Management LLC now owns 28,244 shares of the industrial products company’s stock worth $6,155,000 after buying an additional 2,286 shares in the last quarter. First Horizon Corp increased its position in Packaging Corporation of America by 74,572.9% during the fourth quarter. First Horizon Corp now owns 35,843 shares of the industrial products company’s stock worth $7,392,000 after buying an additional 35,795 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Packaging Corporation of America by 21.2% during the third quarter. Victory Capital Management Inc. now owns 1,788,060 shares of the industrial products company’s stock worth $389,672,000 after buying an additional 312,226 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Packaging Corporation of America

In other news, CEO Mark W. Kowlzan sold 9,266 shares of Packaging Corporation of America 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 completion of the sale, the chief executive officer owned 473,610 shares of the company’s stock, valued at $102,811,258.80. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group raised Packaging Corporation of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $232.00 to $248.00 in a research report on Wednesday, May 20th. Citigroup dropped their price target on Packaging Corporation of America from $227.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. lifted their price objective on Packaging Corporation of America from $225.00 to $246.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Truist Financial reaffirmed a “buy” rating and issued a $258.00 price objective (down from $260.00) on shares of Packaging Corporation of America in a research report on Monday, April 27th. Finally, Argus raised Packaging Corporation of America to a “strong-buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.83.

Packaging Corporation of America Price Performance

Shares of NYSE:PKG opened at $229.24 on Thursday. The company has a market cap of $20.43 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.08 and a beta of 0.81. The company has a quick ratio of 1.88, a current ratio of 3.07 and a debt-to-equity ratio of 0.87. Packaging Corporation of America has a 52 week low of $184.76 and a 52 week high of $249.51. The business has a fifty day simple moving average of $217.20 and a 200-day simple moving average of $217.15.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.23. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.45 billion. Packaging Corporation of America had a return on equity of 19.27% and a net margin of 8.04%.The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. Equities research analysts forecast that Packaging Corporation of America will post 10.8 EPS for the current year.

Packaging Corporation of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be given a $1.50 dividend. This is an increase from Packaging Corporation of America’s previous quarterly dividend of $1.25. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 72.99%.

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.