Packaging Co. of America (NYSE:PKG) Short Interest Down 16.1% in February

Packaging Co. of America (NYSE:PKG) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 1,150,000 shares, a drop of 16.1% from the February 13th total of 1,370,000 shares. Based on an average daily trading volume, of 901,100 shares, the short-interest ratio is currently 1.3 days. Approximately 1.3% of the company’s stock are sold short.

Packaging Co. of America Stock Performance

PKG stock opened at $197.43 on Tuesday. The company has a market cap of $17.73 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock’s fifty day moving average price is $216.47 and its 200-day moving average price is $222.77.

Packaging Co. of America (NYSE:PKG) last released its 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 analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.53%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Hedge Funds Weigh In On Packaging Co. of America

Several institutional investors and hedge funds have recently bought and sold shares of PKG. Larson Financial Group LLC lifted its position in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter valued at about $44,000. Lazard Asset Management LLC raised its holdings in Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 186 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Packaging Co. of America during the fourth quarter valued at about $48,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Citigroup increased their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Truist Financial reiterated 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.