Graphic Packaging (NYSE:GPK) Given New $30.00 Price Target at Truist Financial

Graphic Packaging (NYSE:GPK) had its target price trimmed by Truist Financial from $31.00 to $30.00 in a research note published on Monday, MarketBeat reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company raised shares of 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 report on Monday, January 6th. Citigroup reiterated 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, January 6th. Finally, Robert W. Baird reduced their price target on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a 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, the company currently has an average rating of “Hold” and an average price target of $31.37.

Graphic Packaging Trading Up 2.0 %

Shares of GPK stock opened at $25.78 on Monday. The company has a market capitalization of $7.74 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. 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 business’s 50 day moving average is $26.83 and its two-hundred day moving average is $28.10. Graphic Packaging has a twelve month low of $24.50 and a twelve month high of $30.70.

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

Graphic Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. 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 yield of 1.71%. Graphic Packaging’s dividend payout ratio (DPR) is 20.37%.

Institutional Investors Weigh In On Graphic Packaging

Several institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in Graphic Packaging by 920.6% during the fourth quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company’s stock worth $113,425,000 after purchasing an additional 3,767,011 shares during the last quarter. Norges Bank purchased a new position in shares of Graphic Packaging in the fourth quarter valued at $98,268,000. FMR LLC raised its stake in shares of Graphic Packaging by 12.6% during the 3rd quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock worth $605,416,000 after buying an additional 2,294,688 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Graphic Packaging by 735.3% in the 4th quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company’s stock worth $66,456,000 after buying an additional 2,153,925 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Graphic Packaging in the 4th quarter worth about $51,642,000. Hedge funds and other 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.