Graphic Packaging Holding Co. (GPK) Downgraded by Bank of America Corp. to Neutral
A number of other analysts also recently issued reports on GPK. Zacks Investment Research downgraded Graphic Packaging Holding from a hold rating to a sell rating in a research note on Monday, July 4th. Citigroup Inc. raised their target price on Graphic Packaging Holding from $15.50 to $16.00 and gave the stock a buy rating in a research note on Wednesday, July 27th. Robert W. Baird reaffirmed an outperform rating and issued a $16.00 target price on shares of Graphic Packaging Holding in a research note on Monday, September 19th. RBC Capital Markets initiated coverage on Graphic Packaging Holding in a research note on Thursday, September 29th. They issued an outperform rating and a $17.00 target price for the company. Finally, Royal Bank Of Canada initiated coverage on Graphic Packaging Holding in a research note on Friday. They issued an outperform rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $15.83.
Graphic Packaging Holding (NYSE:GPK) traded up 0.73% during mid-day trading on Monday, hitting $13.89. The company had a trading volume of 579,553 shares. Graphic Packaging Holding has a 52-week low of $10.71 and a 52-week high of $14.70. The company has a 50-day moving average price of $14.14 and a 200 day moving average price of $13.38. The company has a market capitalization of $4.43 billion, a P/E ratio of 17.92 and a beta of 1.47.
Graphic Packaging Holding (NYSE:GPK) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Graphic Packaging Holding had a return on equity of 23.10% and a net margin of 5.97%. The firm earned $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company earned $0.19 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that Graphic Packaging Holding will post $0.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, September 13th. Graphic Packaging Holding’s dividend payout ratio (DPR) is 25.97%.
In related news, Director Harold R. Logan, Jr. sold 14,568 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $13.99, for a total transaction of $203,806.32. Following the completion of the transaction, the director now directly owns 58,076 shares in the company, valued at approximately $812,483.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.47% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted 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 worth $108,000 after buying an additional 912 shares during the period. Creative Planning boosted its position in shares of 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 during the period. Smith Asset Management Group LP boosted its position in shares of 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 during the period. First National Bank of Omaha purchased a new position in shares of Graphic Packaging Holding during the second quarter worth approximately $126,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Graphic Packaging Holding during the second quarter worth approximately $128,000. Institutional investors own 98.13% of the company’s stock.
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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