Packaging Corporation of America President Thomas A. Hassfurther sold 7,063 shares of common stock on August 7, 2026. The shares were sold at a price of $254.00 per share, totaling $1,794,002 from the transaction. This sale comes as PKG trades near its 52-week high of $259.98, with shares up 35% over the past year.
Following this transaction, Mr. Hassfurther directly held 202,891 shares of Packaging Corporation of America common stock. Additionally, 12,176 shares were held indirectly through a 401(k) plan. An investment entity also held 34,293 shares, with Mr. Hassfurther disclaiming beneficial ownership except to the extent of his pecuniary interest.
Recent Earnings and Outlook
Packaging Corporation of America reported its second-quarter adjusted earnings of $2.35 per share, surpassing Wall Street’s estimate of $2.31. The company’s revenue for the quarter was $2.49 billion, aligning with forecasts. Despite strong demand and a 24% increase in shipments year over year, the company faced higher costs related to freight, recycled fiber, and outages, which impacted its margins. UBS raised its price target for Packaging Corp. to $292 from $271, maintaining a Buy rating, following the company’s announcement of a significant $140 per ton containerboard price increase effective September 1.