Packaging Co. of America (NYSE:PKG) Sees Large Decrease in Short Interest

by · The Markets Daily

Packaging Co. of America (NYSE:PKG – Get Free Report) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,150,000 shares, a decline of 16.1% from the February 13th total of 1,370,000 shares. Based on an average trading volume of 901,100 shares, the short-interest ratio is presently 1.3 days. Approximately 1.3% of the shares of the company are short sold.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.73 during trading hours on Wednesday, hitting $198.34. 817,490 shares of the company’s stock were exchanged, compared to its average volume of 613,464. The company has a market capitalization of $17.81 billion, a PE ratio of 22.21, a PEG ratio of 2.41 and a beta of 0.77. The business’s 50 day simple moving average is $215.31 and its 200-day simple moving average is $222.52. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG – Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Analyst Ratings Changes

PKG has been the subject of several analyst reports. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Get Our Latest Analysis on PKG

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PKG. Vanguard Group Inc. lifted its holdings in shares of Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after purchasing an additional 133,575 shares during the last quarter. State Street Corp raised its position in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after buying an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Packaging Co. of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after acquiring an additional 132,836 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after acquiring an additional 29,427 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after acquiring an additional 14,775 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Company Profile

(Get Free Report)

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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