Graphic Packaging Holding Company (GPK) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Graphic Packaging Holding Company (NYSE:GPK) from a sell rating to a hold rating in a report issued on Friday morning.
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. “
A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets restated a buy rating and set a $15.50 target price on shares of Graphic Packaging Holding in a report on Friday, June 23rd. BidaskClub downgraded shares of Graphic Packaging Holding from a buy rating to a hold rating in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a hold rating and issued a $15.00 price objective (up from $14.00) on shares of Graphic Packaging Holding in a report on Friday, July 14th. Finally, DA Davidson assumed coverage on shares of Graphic Packaging Holding in a report on Monday, July 10th. They issued a buy rating and a $17.50 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Graphic Packaging Holding currently has a consensus rating of Buy and a consensus price target of $15.60.
Shares of Graphic Packaging Holding (NYSE GPK) opened at 12.91 on Friday. Graphic Packaging Holding has a one year low of $12.00 and a one year high of $14.70. The firm has a 50-day moving average of $13.52 and a 200-day moving average of $13.36. The company has a market capitalization of $4.00 billion, a P/E ratio of 23.95 and a beta of 1.14.
Graphic Packaging Holding (NYSE:GPK) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Graphic Packaging Holding had a net margin of 3.98% and a return on equity of 18.22%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. Equities research analysts expect that Graphic Packaging Holding will post $0.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.32%. Graphic Packaging Holding’s dividend payout ratio is currently 54.55%.
In other Graphic Packaging Holding news, Director G Andrea Botta sold 10,982 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were 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 SEC, which can be accessed through this link. 1.02% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Cadence Capital Management LLC boosted its stake in shares of 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 during the last quarter. BlackRock Inc. boosted its stake in shares of 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 shares of Graphic Packaging Holding during the first quarter worth about $520,000. Vanguard Group Inc. boosted its stake in shares of 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 shares of 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. 97.71% of the stock is owned by institutional investors.
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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