Graphic Packaging (NYSE:GPK) Price Target Lowered to $28.00 at Truist Financial

Graphic Packaging (NYSE:GPK) had its price objective cut by Truist Financial from $30.00 to $28.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on GPK. Robert W. Baird decreased their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Citigroup reissued a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging currently has a consensus rating of “Moderate Buy” and an average target price of $30.89.

Graphic Packaging Stock Up 3.5 %

GPK stock opened at $25.36 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The firm’s 50-day simple moving average is $25.86 and its 200 day simple moving average is $27.45. The stock has a market cap of $7.65 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80. Graphic Packaging has a fifty-two week low of $23.03 and a fifty-two week high of $30.70.

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

Graphic Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 14th. Graphic Packaging’s dividend payout ratio (DPR) is presently 20.37%.

Hedge Funds Weigh In On Graphic Packaging

Several hedge funds and other institutional investors have recently modified their holdings of GPK. Picton Mahoney Asset Management raised its stake in shares of Graphic Packaging by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 394 shares during the last quarter. Crews Bank & Trust bought a new position in Graphic Packaging in the 4th quarter valued at $32,000. Avior Wealth Management LLC raised its position in Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 689 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Graphic Packaging by 58.2% during the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 549 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.