Packaging Corp Of America (NYSE:PKG) saw strong trading volume on Friday . 2,858,017 shares were traded during trading, an increase of 237% from the previous session’s volume of 848,631 shares.The stock last traded at $118.51 and had previously closed at $117.59.
A number of research analysts have issued reports on the company. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research note on Friday, February 2nd. Zacks Investment Research upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. DA Davidson lifted their price objective on Packaging Corp Of America to $135.00 and gave the company a “positive” rating in a research note on Thursday, February 1st. BMO Capital Markets reiterated a “buy” rating and set a $130.00 price objective on shares of Packaging Corp Of America in a research note on Thursday, January 25th. Finally, Stephens set a $136.00 price objective on Packaging Corp Of America and gave the company a “buy” rating in a research note on Wednesday, January 10th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $128.00.
The company has a debt-to-equity ratio of 1.15, a current ratio of 2.30 and a quick ratio of 1.38. The stock has a market cap of $11,181.42, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.82.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, March 14th. Packaging Corp Of America’s dividend payout ratio is currently 35.64%.
Several hedge funds have recently bought and sold shares of PKG. Victory Capital Management Inc. raised its stake in shares of Packaging Corp Of America by 10.0% in the third quarter. Victory Capital Management Inc. now owns 18,411 shares of the industrial products company’s stock worth $2,111,000 after purchasing an additional 1,671 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Packaging Corp Of America in the third quarter worth $428,000. Keybank National Association OH purchased a new position in shares of Packaging Corp Of America in the third quarter worth $314,000. Jennison Associates LLC purchased a new position in shares of Packaging Corp Of America in the third quarter worth $575,000. Finally, Alps Advisors Inc. purchased a new position in shares of Packaging Corp Of America in the third quarter worth $456,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
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About Packaging Corp Of America
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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