Bank of Nova Scotia Increases Stake in Packaging Corporation of America $PKG

Bank of Nova Scotia lifted its position in Packaging Corporation of America (NYSE:PKG) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,366 shares of the industrial products company’s stock after acquiring an additional 7,033 shares during the quarter. Bank of Nova Scotia’s holdings in Packaging Corporation of America were worth $11,188,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in Packaging Corporation of America by 12.0% in the first quarter. Citigroup Inc. now owns 101,414 shares of the industrial products company’s stock worth $20,082,000 after purchasing an additional 10,840 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Packaging Corporation of America by 62.9% during the 1st quarter. Townsquare Capital LLC now owns 5,242 shares of the industrial products company’s stock worth $1,038,000 after acquiring an additional 2,025 shares during the last quarter. Nuveen LLC bought a new stake in shares of Packaging Corporation of America during the 1st quarter worth approximately $66,091,000. Resona Asset Management Co. Ltd. boosted its holdings in Packaging Corporation of America by 7.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 27,981 shares of the industrial products company’s stock valued at $5,530,000 after acquiring an additional 1,962 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Packaging Corporation of America by 0.5% in the 1st quarter. Russell Investments Group Ltd. now owns 143,065 shares of the industrial products company’s stock valued at $28,329,000 after acquiring an additional 772 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Corporation of America Trading Up 4.9%

NYSE PKG opened at $202.89 on Thursday. Packaging Corporation of America has a one year low of $172.71 and a one year high of $242.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 3.16. The company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The company’s 50-day simple moving average is $202.48 and its two-hundred day simple moving average is $202.31.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.10). The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.29 billion. Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.72%. Packaging Corporation of America’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.65 earnings per share. Packaging Corporation of America has set its Q4 2025 guidance at 2.400-2.400 EPS. Equities analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Monday, December 15th will be issued a $1.25 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.5%. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 50.56%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PKG shares. Citigroup boosted their target price on shares of Packaging Corporation of America from $214.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of Packaging Corporation of America from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, December 5th. UBS Group upped their target price on shares of Packaging Corporation of America from $225.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Packaging Corporation of America in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on Packaging Corporation of America from $200.00 to $222.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $230.67.

Packaging Corporation of America Profile

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.