Graphic Packaging (NYSE:GPK) Price Target Cut to $32.00 by Analysts at Truist Financial

Graphic Packaging (NYSE:GPK) had its target price decreased by Truist Financial from $35.00 to $32.00 in a report published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

A number of other research firms have also weighed in on GPK. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Graphic Packaging in a research note on Wednesday, September 4th. Stifel Nicolaus assumed coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They set a “buy” rating and a $35.20 price target on the stock. StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Citigroup reduced their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.60.

Graphic Packaging Trading Up 1.1 %

Shares of Graphic Packaging stock opened at $30.10 on Tuesday. The firm has a market capitalization of $9.25 billion, a PE ratio of 13.62, a P/E/G ratio of 5.08 and a beta of 0.83. Graphic Packaging has a twelve month low of $20.07 and a twelve month high of $30.66. The firm’s 50-day moving average price is $29.22 and its 200 day moving average price is $28.13. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts predict that Graphic Packaging will post 2.66 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, October 5th. Investors of record on Sunday, September 15th were issued a $0.10 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.33%. Graphic Packaging’s dividend payout ratio (DPR) is presently 18.10%.

Insider Activity at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the transaction, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Graphic Packaging

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Graphic Packaging by 102.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,983,556 shares of the industrial products company’s stock valued at $291,320,000 after buying an additional 5,055,359 shares during the last quarter. American Century Companies Inc. increased its holdings in Graphic Packaging by 41.9% in the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock valued at $317,549,000 after buying an additional 3,576,877 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Graphic Packaging by 7.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock valued at $251,632,000 after buying an additional 706,486 shares during the last quarter. Van ECK Associates Corp increased its holdings in Graphic Packaging by 215.0% in the first quarter. Van ECK Associates Corp now owns 704,530 shares of the industrial products company’s stock valued at $20,558,000 after buying an additional 480,843 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Graphic Packaging by 33.2% in the second quarter. Sei Investments Co. now owns 1,719,878 shares of the industrial products company’s stock valued at $45,078,000 after buying an additional 428,278 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.