Packaging Corp Of America (NYSE:PKG) Short Interest Update

Packaging Corp Of America (NYSE:PKG) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,702,100 shares, a decline of 21.6% from the May 30th total of 2,169,800 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 984,800 shares, the days-to-cover ratio is currently 1.7 days.

Shares of PKG stock traded up $0.40 on Friday, reaching $99.35. 981,301 shares of the company’s stock traded hands, compared to its average volume of 1,416,115. Packaging Corp Of America has a 12-month low of $77.90 and a 12-month high of $118.88. The company has a quick ratio of 1.93, a current ratio of 3.05 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $9.35 billion, a P/E ratio of 12.37, a P/E/G ratio of 2.44 and a beta of 1.72. The company has a 50 day moving average of $94.77.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Packaging Corp Of America’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that Packaging Corp Of America will post 8.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.18%. Packaging Corp Of America’s dividend payout ratio is 39.35%.

Several hedge funds have recently modified their holdings of PKG. Comerica Securities Inc. boosted its stake in shares of Packaging Corp Of America by 12.0% during the fourth quarter. Comerica Securities Inc. now owns 9,116 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 976 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Packaging Corp Of America by 22.6% during the fourth quarter. LPL Financial LLC now owns 14,032 shares of the industrial products company’s stock valued at $1,171,000 after acquiring an additional 2,582 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Packaging Corp Of America by 12.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,874 shares of the industrial products company’s stock valued at $824,000 after acquiring an additional 1,087 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Packaging Corp Of America by 11.2% during the fourth quarter. Van ECK Associates Corp now owns 2,286 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 231 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Packaging Corp Of America by 0.5% during the fourth quarter. Northern Trust Corp now owns 1,122,744 shares of the industrial products company’s stock valued at $93,703,000 after acquiring an additional 5,411 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

A number of equities analysts recently issued reports on PKG shares. Bank of America cut Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Stephens set a $100.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, April 26th. Seaport Global Securities cut Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 target price on the stock. in a report on Friday. They noted that the move was a valuation call. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.09.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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