Packaging Co. of America (NYSE:PKG) Short Interest Update

Packaging Co. of America (NYSE:PKG - Get Free Report) was the recipient of a significant 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. Approximately 1.3% of the company's shares are sold short. Based on an average daily trading volume, of 901,100 shares, the short-interest ratio is presently 1.3 days.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds have recently added to or reduced their stakes in PKG. Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Packaging Co. of America by 24.1% during the third quarter. Apollon Wealth Management LLC now owns 1,386 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 269 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Packaging Co. of America by 3.6% during the third quarter. CIBC Asset Management Inc now owns 15,239 shares of the industrial products company's stock valued at $3,282,000 after purchasing an additional 534 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Packaging Co. of America by 2.1% during the third quarter. Empirical Finance LLC now owns 3,105 shares of the industrial products company's stock valued at $669,000 after purchasing an additional 63 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Packaging Co. of America by 0.5% during the third quarter. Swiss National Bank now owns 266,500 shares of the industrial products company's stock valued at $57,404,000 after purchasing an additional 1,200 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

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Packaging Co. of America Stock Down 1.5 %

Shares of NYSE PKG traded down $2.88 during mid-day trading on Friday, hitting $194.30. 2,534,955 shares of the stock traded hands, compared to its average volume of 619,445. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a fifty day moving average price of $214.03 and a 200-day moving average price of $222.35. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77.

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

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PKG shares. Truist Financial reissued a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $233.00.

About Packaging Co. of America

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.