Graphic Packaging (NYSE:GPK) Shares Gap Down to $27.83

Graphic Packaging Holding (NYSE:GPK) gapped down before the market opened on Tuesday . The stock had previously closed at $27.83, but opened at $26.50. Graphic Packaging shares last traded at $26.54, with a volume of 1,591,211 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GPK. Wells Fargo & Company reissued an “underweight” rating and set a $21.00 price target on shares of Graphic Packaging in a research report on Monday, April 1st. Robert W. Baird boosted their price objective on Graphic Packaging from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Citigroup upped their price target on shares of Graphic Packaging from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Graphic Packaging presently has a consensus rating of “Hold” and an average price target of $28.44.

Graphic Packaging Stock Down 5.8 %

The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 11.19 and a beta of 0.84. The stock has a fifty day moving average of $27.49 and a two-hundred day moving average of $25.01. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.10 and a quick ratio of 0.42.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Graphic Packaging had a net margin of 7.67% and a return on equity of 35.66%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Sell-side analysts anticipate that Graphic Packaging Holding will post 2.7 earnings per share for the current year.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.53%. Graphic Packaging’s dividend payout ratio (DPR) is currently 17.02%.

Insider Transactions at Graphic Packaging

In related news, EVP Joseph P. Yost sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $26.20, for a total value of $1,834,000.00. Following the transaction, the executive vice president now owns 205,231 shares of the company’s stock, valued at approximately $5,377,052.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Graphic Packaging by 64.1% in the 3rd quarter. SG Americas Securities LLC now owns 10,046 shares of the industrial products company’s stock worth $224,000 after buying an additional 3,925 shares during the period. DAVENPORT & Co LLC boosted its holdings in Graphic Packaging by 3.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 14,391 shares of the industrial products company’s stock worth $321,000 after buying an additional 500 shares during the period. Exchange Traded Concepts LLC bought a new position in Graphic Packaging in the 3rd quarter worth approximately $577,000. Commonwealth Equity Services LLC boosted its holdings in Graphic Packaging by 110.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,327 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 9,614 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its holdings in Graphic Packaging by 63.9% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 35,656 shares of the industrial products company’s stock valued at $794,000 after purchasing an additional 13,906 shares during the period. Hedge funds and other institutional investors 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.