JP Morgan Raises PKG Price Target to $322

On October 23, 2026, JP Morgan reiterated its Overweight rating on Packaging Corporation of America and nudged its price target up from $320.00 to $322.00. The research note arrived on the same day the company's shares closed at $249.31. Wall Street firms maintain a generally positive outlook on the packaging provider, with price targets stretching well above current trading levels.

PKG Packaging Corporation of America

$248.70 ▲ +20.05% year to date

1M 3M YTD

Daily close · Oct 23, 2026

JP Morgan's Call on Packaging Corporation of America

In its research note on October 23, 2026, JP Morgan kept its Overweight rating intact while lifting the price target to $322.00 from $320.00. The firm's target stands near the higher end of analyst projections for the containerboard manufacturer, showing strong confidence compared to the broader consensus.

Other Institutional Activity in Packaging Corporation of America

Bank Of New York Mellon Corporation grew its holdings by 904,043 shares, ending with 3,139,561 shares worth about $782,723,945.00. FIL LTD reduced its stake by 85,168 shares, finishing the period with 2,772,813 shares valued at roughly $691,290,002.00. Royal Bank of Canada cut its position by 87,115 shares, leaving it with 2,235,961 shares worth about $557,447,431.00.

Packaging Corporation of America Stock Up 4.2%

Packaging Corporation of America shares recently changed hands around $248.92, down about 0.2% from their event-day close of $249.31 on October 23, 2026. The stock trades roughly 30.0% above its 52-week low and sits about 4.3% below its 52-week high.

Recent Earnings

For its trailing twelve-month period, the company posted $9.53 billion in revenue and earnings of $8.11 per share. It generated a return on equity of 14.9% alongside a net margin of 7.3%. Investors will look toward the next earnings report scheduled for January 26, 2027.

Dividend

Eligible shareholders receive an annual dividend rate of $6.00 per share, which translates to a dividend yield of 2.51%. The payout accounts for 68.3% of the company's earnings over the trailing period.

Insider Buying and Selling at Packaging Corporation of America

Chief Executive Officer Mark W. Kowlzan sold 9,266 shares on May 27, 2026, at an average price of $217.08 for a total value of $2,011,426.00. President Thomas A. Hassfurther sold 21,328 shares on August 5, 2026, valued at $5,393,579.00, and later sold 7,063 shares on August 7, 2026, at $254.00 per share for a total of $1,794,002.00. Donald R. Shirley sold 12,000 shares on August 20, 2026, at $250.71 per share for a total value of $3,008,496.00.

Analysts Set New Price Targets

UBS maintained a buy rating on October 5, 2026, with a target of $289.00, down from $292.00. Wells Fargo maintained an Equal-Weight rating on October 7, 2026, lowering its target to $245.00 from $246.00. Truist Securities maintained a buy rating on October 12, 2026, lifting its target to $280.00 from $270.00, and later reiterated a buy rating on October 23, 2026, raising its target to $294.00 from $280.00. Overall, the stock carries a consensus recommendation of buy from analyst opinions with a mean price target of $265.11.

About Packaging Corporation of America

Packaging Corporation of America manufactures containerboard and uncoated freesheet paper products across North America through its packaging and paper segments. The business serves customer demands across industrial and commercial markets.

Bottom Line

JP Morgan's raised target keeps the spotlight on the firm's outlook as investors track upcoming earnings results in January. Market participants will monitor whether institutional interest keeps pace with shifting analyst valuations.