The Manufacturers Life Insurance Company Buys Shares of 53,970 Packaging Corporation of America $PKG

The Manufacturers Life Insurance Company acquired a new stake in shares of Packaging Corporation of America (NYSE:PKG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 53,970 shares of the industrial products company’s stock, valued at approximately $12,860,000.

Other institutional investors also recently modified their holdings of the company. GRIMES & Co WEALTH MANAGEMENT LLC bought a new stake in shares of Packaging Corporation of America during the fourth quarter worth $4,664,000. PNC Financial Services Group Inc. lifted its stake in shares of Packaging Corporation of America by 7.8% during the first quarter. PNC Financial Services Group Inc. now owns 73,669 shares of the industrial products company’s stock valued at $15,634,000 after acquiring an additional 5,355 shares during the period. Heartland Advisors Inc. boosted its holdings in Packaging Corporation of America by 47.6% in the fourth quarter. Heartland Advisors Inc. now owns 39,145 shares of the industrial products company’s stock valued at $8,073,000 after acquiring an additional 12,621 shares during the last quarter. Adams Natural Resources Fund Inc. boosted its holdings in Packaging Corporation of America by 71.6% in the first quarter. Adams Natural Resources Fund Inc. now owns 12,700 shares of the industrial products company’s stock valued at $2,695,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Packaging Corporation of America by 29.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,309,412 shares of the industrial products company’s stock worth $476,270,000 after purchasing an additional 521,352 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several recent research reports. Bank of America boosted their price objective on Packaging Corporation of America from $242.00 to $263.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Truist Financial lifted their price target on shares of Packaging Corporation of America from $258.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Citigroup increased their price objective on shares of Packaging Corporation of America from $241.00 to $254.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $225.00 to $256.00 in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Packaging Corporation of America has an average rating of “Moderate Buy” and an average price target of $264.57.

Packaging Corporation of America Stock Down 1.2%

Shares of Packaging Corporation of America stock opened at $240.87 on Friday. Packaging Corporation of America has a 1 year low of $191.50 and a 1 year high of $259.98. The business has a 50-day moving average of $242.62 and a two-hundred day moving average of $228.06. The company has a market capitalization of $21.46 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.94 and a quick ratio of 1.86.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business posted $2.48 EPS. Packaging Corporation of America’s revenue for the quarter was up 14.7% on a year-over-year basis. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. As a group, equities analysts predict that Packaging Corporation of America will post 10.48 EPS for the current year.

Insider Buying and Selling

In other news, President Thomas A. Hassfurther sold 12,531 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $250.00, for a total transaction of $3,132,750.00. Following the completion of the sale, the president owned 218,751 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald R. Shirley sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the sale, the vice president owned 19,110 shares in the company, valued at approximately $4,791,068.10. The trade was a 38.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,391 shares of company stock worth $10,196,101. Insiders own 1.60% of the company’s stock.

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.