457,325 Shares in Packaging Corporation of America $PKG Acquired by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in Packaging Corporation of America (NYSE:PKG) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 457,325 shares of the industrial products company’s stock, valued at approximately $108,971,000.

Several other institutional investors also recently bought and sold shares of the business. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new stake in Packaging Corporation of America in the 4th quarter valued at $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 worth $15,634,000 after purchasing an additional 5,355 shares in the last quarter. Heartland Advisors Inc. lifted its stake in shares of Packaging Corporation of America by 47.6% during the fourth quarter. Heartland Advisors Inc. now owns 39,145 shares of the industrial products company’s stock worth $8,073,000 after purchasing an additional 12,621 shares in the last quarter. Adams Natural Resources Fund Inc. grew its stake in shares of 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 buying an additional 5,300 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Packaging Corporation of America by 29.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,309,412 shares of the industrial products company’s stock valued at $476,270,000 after buying an additional 521,352 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PKG. Citigroup boosted their price target on 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. Weiss Ratings raised shares of Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $225.00 to $256.00 in a research note on Monday, May 4th. Bank of America upped their target price on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $246.00 price target (up from $245.00) on shares of Packaging Corporation of America in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.57.

Insider Buying and Selling

In related news, President Thomas A. Hassfurther sold 7,063 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $254.00, for a total value of $1,794,002.00. Following the sale, the president directly owned 202,891 shares of the company’s stock, valued at $51,534,314. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Donald R. Shirley sold 12,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the transaction, the vice president owned 19,110 shares in the company, valued at $4,791,068.10. This trade represents a 38.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,391 shares of company stock valued at $10,196,101 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Packaging Corporation of America Trading Down 1.3%

NYSE:PKG opened at $243.47 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.86 and a current ratio of 2.94. Packaging Corporation of America has a one year low of $191.50 and a one year high of $259.98. The business’s 50-day simple moving average is $242.39 and its 200 day simple moving average is $227.97. The stock has a market cap of $21.69 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.80.

Packaging Corporation of America (NYSE:PKG) 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. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $2.48 EPS. Packaging Corporation of America’s quarterly revenue 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, sell-side analysts predict that Packaging Corporation of America will post 10.48 earnings per share for the current fiscal year.

About Packaging Corporation of America

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.