Sat Sep 21 11:36:59 UTC 2024: ## Mercer Global Advisors Increases Stake in Packaging Co. of America

**New York, NY** – Mercer Global Advisors Inc. ADV significantly boosted its holdings in Packaging Co. of America (PKG) during the second quarter of 2024, according to a recent SEC filing. The investment firm increased its stake by 40.6%, acquiring an additional 13,575 shares, bringing its total ownership to 47,049 shares. This represents approximately 0.05% of Packaging Co. of America, valued at $8,589,000.

Mercer’s move follows a pattern of increased interest in PKG by institutional investors. Several other large investors, including Register Financial Advisors LLC, Neo Ivy Capital Management, and Asset Dedication LLC, also purchased new stakes or increased their existing holdings in the company.

Analysts remain optimistic about PKG’s prospects. Truist Financial, Wells Fargo & Company, and Bank of America have all recently raised their price targets on the stock, while StockNews.com upgraded its rating from “hold” to “buy.” The consensus rating among analysts is a “Moderate Buy,” with an average price target of $190.50.

Packaging Co. of America, a leading manufacturer of containerboard and corrugated packaging products in the United States, reported strong second-quarter earnings, exceeding analysts’ expectations. The company also announced a quarterly dividend of $1.25 per share.

While some corporate insiders have recently sold shares, including EVP Charles J. Carter and SVP Donald R. Shirley, overall, insiders own 1.60% of the company’s stock.

Packaging Co. of America continues to perform well in the market, with its stock trading at $212.90 as of Friday’s opening. The company’s strong financial performance, positive analyst sentiment, and increasing institutional interest suggest a promising outlook for the future.

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