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

Graphic Packaging (NYSE:GPK) had its price target trimmed by Truist Financial from $35.00 to $32.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other brokerages also recently commented on GPK. Robert W. Baird lifted their price target 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. Wells Fargo & Company boosted their price target on Graphic Packaging from $21.00 to $24.00 and gave the company an underweight rating in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an outperform rating and issued a $35.00 price objective on shares of Graphic Packaging in a research report on Wednesday, September 4th. StockNews.com upgraded Graphic Packaging from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Citigroup decreased their price target on Graphic Packaging from $31.00 to $30.00 and set a buy rating on the stock in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $30.78.

Graphic Packaging Trading Down 0.5 %

Shares of Graphic Packaging stock opened at $29.37 on Tuesday. 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 current ratio of 1.45 and a quick ratio of 0.58. The business has a 50 day moving average price of $29.10 and a 200 day moving average price of $28.10. The company has a market capitalization of $9.03 billion, a P/E ratio of 13.29, a P/E/G ratio of 5.08 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. Sell-side analysts anticipate that Graphic Packaging will post 2.66 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Friday, September 13th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Insider Transactions at Graphic Packaging

In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

Several hedge funds have recently modified their holdings of GPK. American Century Companies Inc. grew its position in Graphic Packaging by 41.9% in the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock valued at $317,549,000 after acquiring an additional 3,576,877 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Graphic Packaging by 18.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 11,873,081 shares of the industrial products company’s stock valued at $311,193,000 after purchasing an additional 1,889,525 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Graphic Packaging by 7.9% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Graphic Packaging by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock worth $158,693,000 after buying an additional 362,509 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Graphic Packaging by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 4,079,849 shares of the industrial products company’s stock valued at $119,050,000 after buying an additional 29,189 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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.