Bank of Montreal Can Sells 15,669 Shares of Packaging Corporation of America $PKG

Bank of Montreal Can cut its holdings in Packaging Corporation of America (NYSE:PKG) by 23.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,234 shares of the industrial products company’s stock after selling 15,669 shares during the period. Bank of Montreal Can’s holdings in Packaging Corporation of America were worth $9,467,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Clearstead Trust LLC lifted its position in shares of Packaging Corporation of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 70 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of 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 buying an additional 57 shares during the period. TCTC Holdings LLC grew its stake in Packaging Corporation of America by 86.4% during the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Packaging Corporation of America in the 2nd quarter valued at $33,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Packaging Corporation of America by 40.4% during the 1st 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PKG has been the topic of a number of recent analyst reports. Zacks Research downgraded Packaging Corporation of America from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. assumed coverage on Packaging Corporation of America in a report on Wednesday, September 24th. They issued an “overweight” rating and a $242.00 price target on the stock. Weiss Ratings raised Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Packaging Corporation of America from $200.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Truist Financial lifted their target price on shares of Packaging Corporation of America from $262.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Packaging Corporation of America has a consensus rating of “Moderate Buy” and a consensus target price of $230.17.

Insider Activity at Packaging Corporation of America

In related news, CEO Mark W. Kowlzan sold 25,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total transaction of $5,399,250.00. Following the completion of the sale, the chief executive officer directly owned 437,378 shares in the company, valued at $94,460,526.66. This represents a 5.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.

Packaging Corporation of America Stock Up 1.2%

PKG opened at $200.51 on Monday. Packaging Corporation of America has a 12 month low of $172.71 and a 12 month high of $250.82. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $209.94 and its 200-day moving average price is $200.62. The company has a market cap of $18.04 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.44 and a beta of 0.92.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported $2.73 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.10). Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.98%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the prior year, the company earned $2.65 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. Packaging Corporation of America has set its Q4 2025 guidance at 2.400-2.400 EPS. On average, equities analysts expect that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 50.56%.

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.