Packaging Corporation of America (NYSE:PKG) Sees Significant Decrease in Short Interest
by Renee Jackson · The Cerbat GemPackaging Corporation of America (NYSE:PKG – Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 3,340,726 shares, a decrease of 36.1% from the March 15th total of 5,228,241 shares. Based on an average daily volume of 1,285,912 shares, the days-to-cover ratio is currently 2.6 days. Approximately 3.8% of the company’s stock are short sold.
Packaging Corporation of America Price Performance
Shares of PKG traded up $0.28 during mid-day trading on Thursday, reaching $207.35. The company had a trading volume of 623,380 shares, compared to its average volume of 1,043,246. The company’s 50 day simple moving average is $221.78 and its 200 day simple moving average is $212.72. Packaging Corporation of America has a 1-year low of $176.45 and a 1-year high of $249.51. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.94 and a current ratio of 3.17. The company has a market capitalization of $18.46 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 1.89 and a beta of 0.90.
Packaging Corporation of America (NYSE:PKG – Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09). Packaging Corporation of America had a net margin of 8.61% and a return on equity of 19.22%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the business posted $2.47 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Packaging Corporation of America has set its Q1 2026 guidance at 2.200-2.20 EPS. Analysts expect that Packaging Corporation of America will post 10.44 EPS for the current year.
Packaging Corporation of America Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, March 13th. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 58.34%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on PKG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Packaging Corporation of America in a research report on Wednesday, April 1st. They set a “hold” rating and a $225.00 price target on the stock. Citigroup lowered their price target on shares of Packaging Corporation of America from $227.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their price objective on shares of Packaging Corporation of America from $234.00 to $226.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Truist Financial decreased their target price on shares of Packaging Corporation of America from $270.00 to $267.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Packaging Corporation of America has an average rating of “Moderate Buy” and an average price target of $230.00.
View Our Latest Stock Analysis on PKG
Insider Buying and Selling
In other Packaging Corporation of America news, President Thomas A. Hassfurther sold 12,129 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $230.50, for a total value of $2,795,734.50. Following the completion of the sale, the president owned 197,062 shares in the company, valued at $45,422,791. This trade represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On Packaging Corporation of America
Several hedge funds have recently added to or reduced their stakes in PKG. Cornerstone Planning Group LLC boosted its position in Packaging Corporation of America by 105.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company’s stock worth $25,000 after buying an additional 59 shares during the period. DV Equities LLC acquired a new stake in Packaging Corporation of America during the 4th quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Packaging Corporation of America during the 3rd quarter worth approximately $31,000. Covestor Ltd boosted its position in Packaging Corporation of America by 140.0% during the 4th quarter. Covestor Ltd now owns 156 shares of the industrial products company’s stock worth $32,000 after buying an additional 91 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Packaging Corporation of America by 94.1% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the industrial products company’s stock worth $34,000 after buying an additional 80 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.
Packaging Corporation of America Company Profile
Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.
Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.