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

Graphic Packaging (NYSE:GPK) had its target price hoisted by Truist Financial from $30.00 to $32.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Citigroup reissued a “neutral” rating and issued a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday. Royal Bank of Canada reduced their price target on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upgraded shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $24.00 to $27.00 in a report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.37.

Graphic Packaging Trading Down 0.2 %

NYSE GPK opened at $26.44 on Monday. Graphic Packaging has a one year low of $23.47 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.73 and a quick ratio of 0.72. The firm has a market cap of $7.94 billion, a P/E ratio of 11.30, a P/E/G ratio of 11.42 and a beta of 0.85. The stock’s 50-day moving average is $28.56 and its 200-day moving average is $28.54.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts anticipate that Graphic Packaging will post 2.52 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, January 5th. Investors of record on Sunday, December 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. Graphic Packaging’s dividend payout ratio is presently 17.09%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Graphic Packaging

Large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. raised its position in shares of Graphic Packaging by 1.1% in the second quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock valued at $860,000 after purchasing an additional 369 shares during the period. Worldquant Millennium Advisors LLC raised its holdings in Graphic Packaging by 1.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company’s stock valued at $1,126,000 after acquiring an additional 401 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Graphic Packaging by 0.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock worth $1,422,000 after acquiring an additional 406 shares during the last quarter. KBC Group NV boosted its holdings in shares of Graphic Packaging by 1.8% during the third quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after acquiring an additional 465 shares during the period. Finally, Benjamin Edwards Inc. grew its position in shares of Graphic Packaging by 1.2% in the second quarter. Benjamin Edwards Inc. now owns 42,857 shares of the industrial products company’s stock valued at $1,123,000 after purchasing an additional 497 shares during the last quarter. Institutional investors 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.