Graphic Packaging (NYSE:GPK) Price Target Cut to $10.00 by Analysts at Royal Bank Of Canada

Graphic Packaging (NYSE:GPK) had its target price lowered by Royal Bank Of Canada from $13.00 to $10.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the industrial products company’s stock.

A number of other analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Graphic Packaging in a research report on Monday, December 29th. Wells Fargo & Company cut their target price on Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 4th. Citigroup reduced their target price on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Truist Financial set a $14.00 price target on shares of Graphic Packaging in a research note on Wednesday, February 4th. Finally, Zacks Research lowered shares of Graphic Packaging from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Graphic Packaging presently has an average rating of “Reduce” and a consensus target price of $16.00.

Graphic Packaging Stock Performance

NYSE:GPK opened at $8.89 on Friday. The firm’s 50-day moving average is $12.75 and its 200-day moving average is $15.65. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 6.00 and a beta of 0.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.52 and a current ratio of 1.30. Graphic Packaging has a 52-week low of $8.78 and a 52-week high of $26.40.

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

Graphic Packaging Announces Dividend

The business also recently announced 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 is presently 29.73%.

Insider Activity

In other news, CEO Robbert Rietbroek purchased 44,278 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were purchased at an average price of $11.32 per share, with a total value of $501,226.96. Following the purchase, the chief executive officer directly owned 44,278 shares of the company’s stock, valued at $501,226.96. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Eminence Capital LP lifted its position in Graphic Packaging by 164.6% during the 3rd quarter. Eminence Capital LP now owns 7,648,135 shares of the industrial products company’s stock worth $149,674,000 after buying an additional 4,758,098 shares in the last quarter. Causeway Capital Management LLC grew its holdings in shares of Graphic Packaging by 251.3% in the 3rd quarter. Causeway Capital Management LLC now owns 2,601,576 shares of the industrial products company’s stock valued at $50,913,000 after acquiring an additional 1,861,097 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Graphic Packaging by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,138,977 shares of the industrial products company’s stock valued at $374,550,000 after acquiring an additional 1,502,681 shares in the last quarter. Royce & Associates LP increased its position in shares of Graphic Packaging by 15.6% in the third quarter. Royce & Associates LP now owns 1,244,210 shares of the industrial products company’s stock valued at $24,349,000 after acquiring an additional 167,623 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Graphic Packaging by 48.0% during the second quarter. Texas Permanent School Fund Corp now owns 234,885 shares of the industrial products company’s stock worth $4,949,000 after acquiring an additional 76,226 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Company Profile

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.