Graphic Packaging (NYSE:GPK) Shares Gap Down to $30.11

Graphic Packaging Holding (NYSE:GPK)’s share price gapped down prior to trading on Monday . The stock had previously closed at $30.11, but opened at $29.16. Graphic Packaging shares last traded at $28.94, with a volume of 383,103 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GPK shares. Wells Fargo & Company increased their price objective on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Citigroup reduced their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Graphic Packaging in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus began coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

Graphic Packaging Stock Performance

The company has a market capitalization of $8.95 billion, a P/E ratio of 13.62, a PEG ratio of 5.12 and a beta of 0.83. The stock’s fifty day moving average price is $28.81 and its 200-day moving average price is $27.97. 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) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Insider Activity

In related 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 sale, the chief executive officer now directly owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction dated 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 owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Graphic Packaging

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in shares of 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 worth $317,549,000 after purchasing an additional 3,576,877 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Graphic Packaging by 18.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 11,873,081 shares of the industrial products company’s stock worth $311,193,000 after buying an additional 1,889,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 acquiring an additional 706,486 shares in the last quarter. Eminence Capital LP boosted its holdings in Graphic Packaging by 5.7% during the 4th quarter. Eminence Capital LP now owns 7,962,325 shares of the industrial products company’s stock worth $196,271,000 after acquiring an additional 431,818 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Graphic Packaging by 6.4% in 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 acquiring an additional 362,509 shares in 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.