Graphic Packaging (NYSE:GPK) Price Target Lowered to $34.00 at Royal Bank of Canada

by · The Cerbat Gem

Graphic Packaging (NYSE:GPK – Free Report) had its price objective decreased by Royal Bank of Canada from $35.00 to $34.00 in a research note published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on GPK. StockNews.com upgraded Graphic Packaging from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird raised their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus began coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They set a “buy” rating and a $35.20 price target on the stock. Truist Financial decreased their price objective on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Citigroup lowered their price objective 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.65.

View Our Latest Research Report on Graphic Packaging

Graphic Packaging Stock Up 1.1 %

Shares of GPK stock opened at $29.79 on Thursday. The business’s fifty day moving average is $29.18 and its 200-day moving average is $28.12. The stock has a market cap of $9.15 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 5.08 and a beta of 0.83. Graphic Packaging has a 1 year low of $20.07 and a 1 year high of $30.66. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45.

Graphic Packaging (NYSE:GPK – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities analysts expect that Graphic Packaging will post 2.66 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, September 13th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Insider Buying and Selling

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was 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 of the company’s stock, valued at $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in Graphic Packaging by 102.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,983,556 shares of the industrial products company’s stock worth $291,320,000 after buying an additional 5,055,359 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Graphic Packaging by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock worth $317,549,000 after purchasing an additional 3,576,877 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Graphic Packaging by 7.9% during 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 purchasing an additional 706,486 shares during the period. Van ECK Associates Corp raised its stake in shares of 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 purchasing an additional 480,843 shares in the last quarter. Finally, Sei Investments Co. boosted its position 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 in the last quarter. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Company Profile

(Get Free Report)

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.

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