Truist Financial Cuts Graphic Packaging (NYSE:GPK) Price Target to $30.00

Graphic Packaging (NYSE:GPK) had its target price cut by Truist Financial from $31.00 to $30.00 in a report released on Monday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on the stock. Citigroup reiterated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Finally, Robert W. Baird reduced their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.37.

Graphic Packaging Price Performance

Shares of GPK opened at $25.35 on Monday. Graphic Packaging has a 52 week low of $24.50 and a 52 week high of $30.70. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.10 and a beta of 0.81. The stock has a 50 day moving average of $26.90 and a 200-day moving average of $28.14.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. As a group, analysts forecast that Graphic Packaging will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be paid a dividend of $0.11 per share. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, March 14th. Graphic Packaging’s payout ratio is currently 20.37%.

Hedge Funds Weigh In On Graphic Packaging

A number of institutional investors and hedge funds have recently bought and sold shares of GPK. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Graphic Packaging by 592.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 157,665 shares of the industrial products company’s stock worth $4,282,000 after acquiring an additional 134,910 shares during the period. Park Square Financial Group LLC bought a new stake in Graphic Packaging during the fourth quarter worth approximately $79,000. Menard Financial Group LLC lifted its position in Graphic Packaging by 8.7% in the fourth quarter. Menard Financial Group LLC now owns 18,042 shares of the industrial products company’s stock worth $490,000 after purchasing an additional 1,447 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Graphic Packaging during the 4th quarter valued at $6,851,000. Finally, Pullen Investment Management LLC increased its position in shares of Graphic Packaging by 21.4% during the 4th quarter. Pullen Investment Management LLC now owns 109,243 shares of the industrial products company’s stock valued at $2,967,000 after purchasing an additional 19,243 shares during the period. 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.