Royal Bank Of Canada Cuts Graphic Packaging (NYSE:GPK) Price Target to $10.00

Graphic Packaging (NYSE:GPK) had its price objective cut by Royal Bank Of Canada from $13.00 to $10.00 in a report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on GPK. Citigroup decreased their target price on shares of Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Zacks Research lowered shares of Graphic Packaging from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Robert W. Baird set a $15.00 price objective on shares of Graphic Packaging in a report on Wednesday, February 4th. Truist Financial set a $14.00 price objective on shares of Graphic Packaging in a research report on Wednesday, February 4th. Finally, UBS Group lowered their target price on shares of Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Eight investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Graphic Packaging presently has an average rating of “Reduce” and an average price target of $16.00.

Graphic Packaging Stock Down 5.1%

Graphic Packaging stock opened at $8.89 on Friday. The business’s 50-day moving average price is $12.75 and its 200 day moving average price is $15.57. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 6.00 and a beta of 0.65. Graphic Packaging has a 52 week low of $8.78 and a 52 week high of $26.40.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.24 earnings per share (EPS) for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The company had revenue of $2.10 billion during the quarter. As a group, sell-side analysts anticipate that Graphic Packaging will post 2.47 earnings per share for the current year.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Sunday, March 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 5.0%. Graphic Packaging’s dividend payout ratio (DPR) is currently 29.73%.

Insider Buying and Selling

In related news, CEO Robbert Rietbroek acquired 44,278 shares of Graphic Packaging stock in a transaction on Wednesday, March 4th. The stock was bought at an average cost of $11.32 per share, for a total transaction of $501,226.96. Following the completion of the transaction, the chief executive officer owned 44,278 shares of the company’s stock, valued at approximately $501,226.96. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.41% of the company’s stock.

Institutional Trading of Graphic Packaging

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its position in shares of Graphic Packaging by 282.0% during the 3rd quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Graphic Packaging by 13,971.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,956 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Graphic Packaging in the 3rd quarter worth about $31,000. MassMutual Private Wealth & Trust FSB increased its stake in Graphic Packaging by 649.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,039 shares of the industrial products company’s stock worth $31,000 after buying an additional 1,767 shares in the last quarter. Finally, Operose Advisors LLC purchased a new stake in Graphic Packaging during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.