Truist Financial Cuts Graphic Packaging (NYSE:GPK) Price Target to $11.00

Graphic Packaging (NYSE:GPK) had its target price lowered by Truist Financial from $14.00 to $11.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on GPK. Deutsche Bank Aktiengesellschaft initiated coverage on Graphic Packaging in a report on Wednesday, April 1st. They issued a “hold” rating and a $9.60 price target on the stock. Robert W. Baird set a $15.00 price objective on Graphic Packaging in a report on Wednesday, February 4th. Royal Bank Of Canada reduced their price objective on Graphic Packaging from $13.00 to $10.00 and set a “sector perform” rating on the stock in a report on Friday, March 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a report on Friday, March 27th. Finally, UBS Group reduced their price objective on Graphic Packaging from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Nine analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $13.73.

Graphic Packaging Trading Up 3.0%

Shares of NYSE GPK opened at $9.83 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.52 and a current ratio of 1.30. The business’s 50 day moving average price is $10.68 and its 200-day moving average price is $14.16. Graphic Packaging has a fifty-two week low of $8.78 and a fifty-two week high of $25.81. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 6.64 and a beta of 0.69.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.24 earnings per share for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The firm had revenue of $2.10 billion for the quarter. On average, sell-side analysts expect that Graphic Packaging will post 2.47 earnings per share for the current year.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Sunday, March 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, March 13th. Graphic Packaging’s dividend payout ratio (DPR) is presently 29.73%.

Insider Buying and Selling

In other news, CEO Robbert Rietbroek acquired 44,278 shares of Graphic Packaging stock in a transaction on Wednesday, March 4th. The shares were bought at an average cost of $11.32 per share, for a total transaction of $501,226.96. Following the acquisition, the chief executive officer directly owned 44,278 shares of the company’s stock, valued at $501,226.96. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.41% of the stock is owned by insiders.

Institutional Trading of Graphic Packaging

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its position in Graphic Packaging by 282.0% during the 3rd quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Graphic Packaging by 13,971.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,956 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Graphic Packaging during the 3rd quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its position in Graphic Packaging by 649.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,039 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 1,767 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Graphic Packaging by 65.2% during the 3rd quarter. Global Retirement Partners LLC now owns 2,291 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 904 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Company Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.