Truist Securities Raises PKG Price Target to $294
Key Points
- Truist Securities reiterated its Buy rating on Packaging Corporation of America and raised its price target from $280.00 to $294.00 on October 23, 2026.
- Truist Securities's $294 price target implies 18.11% upside from Packaging Corporation of America's ($PKG) current $248.92 share price.
- The containerboard manufacturer trades near $248.92, supported by a trailing price-to-earnings ratio of 30.69 and an annual dividend rate of $6.00.
- Wall Street maintains a general consensus buy rating on the stock with a mean price target of $265.11 across nine analyst opinions.
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Truist Securities reaffirmed its Buy rating on Packaging Corporation of America (NYSE: PKG) on October 23, 2026, while bumping its price target up from $280.00 to $294.00. According to research notes released on October 23, 2026, the firm opted to keep its positive stance on the packaging company while lifting the expected price ceiling.
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Packaging Corporation of America
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Truist Securities' Call on Packaging Corporation of America
The updated research note on October 23, 2026, followed an earlier note from October 12, 2026, where Truist Securities had maintained a Buy rating with a target of $280.00. The latest adjustment lifts the target by $14.00 to $294.00.
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, marking a 40.4% increase. FIL LTD reduced its stake by 85,168 shares for a 3.0% decrease, finishing with 2,772,813 shares valued at about $691,290,002.00. Royal Bank of Canada trimmed its position by 87,115 shares, or 3.8%, leaving it with 2,235,961 shares worth about $557,447,431.00.
Packaging Corporation of America Stock Up 4.2%
The company's shares closed at $249.31 on October 23, 2026, and recently traded around $248.92 as of October 23, 2026. The stock sits 4.3% below its 52-week high of $259.98 and well above its 52-week low of $191.50.
$PKG price target
Packaging Corporation of America daily closes and this analyst's $294 target. Not advice.
Recent Earnings
Packaging Corporation of America generated $9,534,600,192.00 in trailing twelve month revenue with an earnings per share of $8.11. The company's next earnings report is scheduled for release on January 26, 2027.
Dividend
The company pays an annual dividend of $6.00 per share, which translates to a dividend yield of 2.51% based on recent trading levels.
Insider Buying and Selling at Packaging Corporation of America
Chief Executive Officer Mark W W Kowlzan sold 9,266 shares on May 27, 2026, at an average price of $217.08 for a total value of about $2,011,426.00. President Thomas A Hassfurther sold 21,328 shares on August 5, 2026, valued at $5,393,579.00. Thomas A Hassfurther also sold 7,063 shares on August 7, 2026, at an average price of $254.00 for a total value of $1,794,002.00. Officer Donald R. Shirley sold 12,000 shares on August 20, 2026, at an average price of $250.71 for a total value of $3,008,496.00.
Analysts Set New Price Targets
UBS maintained a Buy rating with a target of $289.00 on October 5, 2026, moving from a prior target of $292.00. Wells Fargo maintained an Equal-Weight rating with a $245.00 target on October 7, 2026, down from $246.00. JP Morgan maintained an Overweight rating and raised its target to $322.00 from $320.00 on October 23, 2026. Overall, the stock holds a consensus buy rating backed by nine analyst opinions and 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 business segments. The firm serves packaging clients in diverse consumer and industrial markets, making its operational updates a useful gauge for broader goods demand.
Bottom Line
Investors will look toward the company's next financial update on January 26, 2027, to see how containerboard demand tracks against current analyst expectations.
Related Filing Alerts
Source: Truist Securities's rating change on $PKG (Oct 23, 2026). Written by software, not financial advice. How we make alerts