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

Graphic Packaging (NYSE:GPK) had its price objective lifted by Truist Financial from $30.00 to $32.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. Citigroup restated a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday. Wells Fargo & Company raised 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 report on Monday. Royal Bank of Canada decreased their target price 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, StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.37.

Graphic Packaging Stock Performance

NYSE GPK opened at $26.71 on Monday. The business’s 50 day moving average price is $28.52 and its 200-day moving average price is $28.54. Graphic Packaging has a fifty-two week low of $23.47 and a fifty-two week high of $30.70. The company has a market cap of $8.02 billion, a P/E ratio of 11.41, a P/E/G ratio of 11.42 and a beta of 0.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73.

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

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th were issued a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. Graphic Packaging’s dividend payout ratio is currently 17.09%.

Insider Activity

In related news, CAO Charles D. Lischer sold 12,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 49,849 shares in the company, valued at $1,478,022.85. The trade was a 19.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael James Farrell sold 25,900 shares of Graphic Packaging stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the completion of the transaction, the executive vice president now directly owns 81,026 shares in the company, valued at $2,348,943.74. This represents a 24.22 % 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 Trading of Graphic Packaging

Institutional investors have recently made changes to their positions in the business. UMB Bank n.a. boosted its holdings in Graphic Packaging by 546.6% in the third quarter. UMB Bank n.a. now owns 944 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 798 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Graphic Packaging in the 3rd quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB purchased a new stake in Graphic Packaging during the 3rd quarter worth approximately $73,000. GAMMA Investing LLC grew its position in Graphic Packaging by 57.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,308 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 1,564 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Graphic Packaging by 29.0% in the third quarter. TD Private Client Wealth LLC now owns 5,130 shares of the industrial products company’s stock worth $152,000 after buying an additional 1,153 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Company Profile

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.