Zacks Investment Research Lowers Graphic Packaging Holding Co. (GPK) to Sell
According to Zacks, “GRAPHIC PACKAGING CORPORATION, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. Graphic Packaging’s customers include some of the most widely recognized companies in the world. “
Several other research analysts have also weighed in on GPK. Citigroup Inc. upped their target price on shares of Graphic Packaging Holding from $15.50 to $16.00 and gave the stock a buy rating in a research report on Wednesday, July 27th. Robert W. Baird restated an outperform rating and set a $16.00 target price on shares of Graphic Packaging Holding in a research report on Monday, September 19th. RBC Capital Markets started coverage on shares of Graphic Packaging Holding in a research report on Thursday, September 29th. They set an outperform rating and a $17.00 target price on the stock. Royal Bank Of Canada assumed coverage on shares of Graphic Packaging Holding in a research report on Friday, September 30th. They set an outperform rating and a $17.00 target price on the stock. Finally, Bank of America Corp. downgraded shares of Graphic Packaging Holding from a buy rating to a neutral rating in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $15.83.
Shares of Graphic Packaging Holding (NYSE:GPK) opened at 13.73 on Wednesday. Graphic Packaging Holding has a one year low of $10.71 and a one year high of $14.70. The stock’s 50 day moving average is $14.11 and its 200-day moving average is $13.39. The firm has a market cap of $4.38 billion, a P/E ratio of 17.72 and a beta of 1.47.
Graphic Packaging Holding (NYSE:GPK) last issued its earnings results on Tuesday, July 26th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Graphic Packaging Holding had a net margin of 5.97% and a return on equity of 23.10%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that Graphic Packaging Holding will post $0.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 13th. Graphic Packaging Holding’s payout ratio is 25.97%.
In related news, Director Harold R. Logan, Jr. sold 14,568 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $13.99, for a total transaction of $203,806.32. Following the transaction, the director now owns 58,076 shares of the company’s stock, valued at $812,483.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.47% of the company’s stock.
Several institutional investors have recently made changes to their positions in GPK. Van ECK Associates Corp increased its position in shares of Graphic Packaging Holding by 11.8% in the second quarter. Van ECK Associates Corp now owns 8,649 shares of the company’s stock valued at $108,000 after buying an additional 912 shares during the last quarter. Creative Planning increased its position in Graphic Packaging Holding by 1.6% in the second quarter. Creative Planning now owns 8,925 shares of the company’s stock worth $112,000 after buying an additional 138 shares in the last quarter. Smith Asset Management Group LP increased its position in Graphic Packaging Holding by 8,596.5% in the second quarter. Smith Asset Management Group LP now owns 9,914 shares of the company’s stock worth $124,000 after buying an additional 9,800 shares in the last quarter. First National Bank of Omaha bought a new position in Graphic Packaging Holding during the second quarter worth $126,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Graphic Packaging Holding during the second quarter worth $128,000. 98.13% of the stock is currently owned by institutional investors and hedge funds.
Graphic Packaging Holding Company Profile
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, Flexible Packaging, and Corporate and Other.
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