Insider Selling: Daniel J. Blount Unloads 68,975 Shares of Graphic Packaging Holding Company Stock (GPK)
Graphic Packaging Holding Company (NYSE:GPK) CFO Daniel J. Blount sold 68,975 shares of the stock on the open market in a transaction dated Thursday, July 31st. The stock was sold at an average price of $12.08, for a total value of $833,218.00. Following the completion of the transaction, the chief financial officer now directly owns 265,713 shares of the company’s stock, valued at approximately $3,209,813. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Graphic Packaging Holding Company (NYSE:GPK) traded up 0.67% during mid-day trading on Monday, hitting $12.11. The stock had a trading volume of 4,683,224 shares. Graphic Packaging Holding Company has a 52 week low of $8.05 and a 52 week high of $12.54. The stock’s 50-day moving average is $11.73 and its 200-day moving average is $10.6. The company has a market cap of $3.960 billion and a P/E ratio of 47.36. Graphic Packaging Holding Company also was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 7,464,809 shares, an increase of 59.7% from the June 30th total of 4,673,727 shares. Based on an average trading volume of 2,363,970 shares, the short-interest ratio is currently 3.2 days. Approximately 2.3% of the company’s stock are sold short.
Graphic Packaging Holding Company (NYSE:GPK) last released its earnings data on Thursday, July 24th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.03. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $0.13 earnings per share. Graphic Packaging Holding Company’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that Graphic Packaging Holding Company will post $0.70 earnings per share for the current fiscal year.
GPK has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Graphic Packaging Holding Company in a research note on Wednesday, July 30th. They now have a $14.50 price target on the stock, up previously from $14.00. Separately, analysts at Zacks upgraded shares of Graphic Packaging Holding Company from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $12.90 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Graphic Packaging Holding Company from $13.00 to $15.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $13.58.
Graphic Packaging Holding Company (NYSE:GPK) is a provider of packaging solutions for a variety of products to food, beverage and other consumer products companies.
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