Zacks Investment Research downgraded shares of Graphic Packaging Holding Company (NYSE:GPK) from a hold rating to a sell rating in a research report released on Thursday, July 27th.
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. “
Other equities analysts have also issued research reports about the company. DA Davidson started coverage on Graphic Packaging Holding in a research note on Monday, July 10th. They set a buy rating and a $17.50 price target on the stock. BidaskClub raised Graphic Packaging Holding from a hold rating to a buy rating in a research note on Wednesday, July 5th. BMO Capital Markets reissued a buy rating and issued a $15.50 target price on shares of Graphic Packaging Holding in a research note on Friday, June 23rd. Citigroup Inc. reissued a buy rating on shares of Graphic Packaging Holding in a research note on Friday, April 14th. Finally, Royal Bank Of Canada reissued a buy rating and issued a $15.00 target price on shares of Graphic Packaging Holding in a research note on Tuesday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $15.73.
Graphic Packaging Holding (GPK) opened at 13.77 on Thursday. The firm has a 50-day moving average of $13.56 and a 200-day moving average of $13.34. The firm has a market cap of $4.27 billion, a P/E ratio of 25.55 and a beta of 1.14. Graphic Packaging Holding has a 12-month low of $12.00 and a 12-month high of $14.70.
Graphic Packaging Holding (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Graphic Packaging Holding had a return on equity of 18.22% and a net margin of 3.98%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts expect that Graphic Packaging Holding will post $0.68 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a $0.075 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.18%. Graphic Packaging Holding’s dividend payout ratio is 54.55%.
In other Graphic Packaging Holding news, Director G Andrea Botta sold 10,982 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $13.45, for a total value of $147,707.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cadence Capital Management LLC increased its position in Graphic Packaging Holding by 51.3% in the first quarter. Cadence Capital Management LLC now owns 59,951 shares of the industrial products company’s stock worth $772,000 after buying an additional 20,315 shares in the last quarter. BlackRock Inc. boosted its stake in Graphic Packaging Holding by 16,552.6% in the first quarter. BlackRock Inc. now owns 14,893,409 shares of the industrial products company’s stock worth $191,677,000 after buying an additional 14,803,973 shares during the last quarter. OLD National Bancorp IN acquired a new stake in Graphic Packaging Holding during the first quarter worth about $520,000. Vanguard Group Inc. boosted its stake in Graphic Packaging Holding by 3.7% in the first quarter. Vanguard Group Inc. now owns 25,103,563 shares of the industrial products company’s stock worth $323,083,000 after buying an additional 896,031 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Graphic Packaging Holding by 2.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,390,397 shares of the industrial products company’s stock worth $17,895,000 after buying an additional 29,761 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.
About Graphic Packaging Holding
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, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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