Graphic Packaging (NYSE:GPK) Price Target Raised to $32.00

Graphic Packaging (NYSE:GPK) had its price objective upped by Truist Financial from $30.00 to $32.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

GPK has been the subject of a number of other reports. Citigroup restated a “neutral” rating and set a $30.00 price target (down from $33.00) on shares of Graphic Packaging in a research note on Monday. Royal Bank of Canada cut their price objective on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $24.00 to $27.00 in a report on Monday. Finally, StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Graphic Packaging currently has an average rating of “Hold” and a consensus price target of $32.37.

Graphic Packaging Stock Up 0.6 %

GPK opened at $26.71 on Monday. Graphic Packaging has a twelve month low of $23.47 and a twelve month high of $30.70. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average price of $28.52 and a 200-day moving average price of $28.54. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 11.42 and a beta of 0.85.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Graphic Packaging’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities research analysts forecast that Graphic Packaging will post 2.52 earnings per share for the current year.

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th were paid a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.50%. Graphic Packaging’s payout ratio is presently 17.09%.

Insider Activity

In related news, CAO Charles D. Lischer sold 12,000 shares of Graphic Packaging stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the sale, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This trade represents a 19.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael James Farrell sold 25,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the transaction, the executive vice president now owns 81,026 shares of the company’s stock, valued at $2,348,943.74. The trade was a 24.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Graphic Packaging

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Graphic Packaging by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock valued at $313,957,000 after purchasing an additional 787,266 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in Graphic Packaging in the 3rd quarter worth approximately $2,292,000. Franklin Resources Inc. increased its stake in Graphic Packaging by 28.0% in the 3rd quarter. Franklin Resources Inc. now owns 408,831 shares of the industrial products company’s stock worth $12,069,000 after acquiring an additional 89,339 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Graphic Packaging by 75.0% during the 3rd quarter. Tidal Investments LLC now owns 48,090 shares of the industrial products company’s stock valued at $1,423,000 after acquiring an additional 20,604 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Graphic Packaging during the 3rd quarter valued at approximately $73,000. 99.67% of the stock is currently owned by institutional investors.

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.