Royal Bank Of Canada started coverage on shares of Graphic Packaging Holding Co. (NYSE:GPK) in a research report sent to investors on Friday. The brokerage issued an outperform rating and a $17.00 price target on the stock.
Other research analysts have also recently issued research reports about the stock. Citigroup Inc. upped their target price on shares of Graphic Packaging Holding from $15.50 to $16.00 and gave the company a buy rating in a research report on Wednesday, July 27th. Zacks Investment Research raised shares of Graphic Packaging Holding from a sell rating to a hold rating in a research report on Friday, August 26th. RBC Capital Markets started coverage on shares of Graphic Packaging Holding in a research report on Thursday, September 29th. They set an outperform rating and a $17.00 price target on the stock. Finally, Robert W. Baird reissued an outperform rating and set a $16.00 price target on shares of Graphic Packaging Holding in a research report on Monday, September 19th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Graphic Packaging Holding currently has a consensus rating of Buy and a consensus target price of $15.83.
Shares of Graphic Packaging Holding (NYSE:GPK) opened at 13.65 on Friday. Graphic Packaging Holding has a 52-week low of $10.71 and a 52-week high of $14.70. The firm’s 50-day moving average is $14.13 and its 200 day moving average is $13.38. The stock has a market cap of $4.36 billion, a P/E ratio of 17.61 and a beta of 1.47.
Graphic Packaging Holding (NYSE:GPK) last posted its earnings results on Tuesday, July 26th. The company reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. Graphic Packaging Holding had a net margin of 5.97% and a return on equity of 23.10%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. Graphic Packaging Holding’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts forecast that Graphic Packaging Holding will post $0.79 earnings per share 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 $0.05 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.47%. 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 that occurred on Tuesday, August 16th. The shares were sold at an average price of $13.99, for a total value of $203,806.32. Following the sale, the director now owns 58,076 shares of the company’s stock, valued at $812,483.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.47% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in GPK. FMR LLC raised its position in shares of Graphic Packaging Holding by 40.2% in the second quarter. FMR LLC now owns 34,116,601 shares of the company’s stock valued at $427,822,000 after buying an additional 9,776,631 shares in the last quarter. Norges Bank bought a new position in shares of Graphic Packaging Holding during the fourth quarter valued at approximately $40,497,000. Renaissance Technologies LLC raised its position in shares of Graphic Packaging Holding by 396.6% in the first quarter. Renaissance Technologies LLC now owns 1,761,118 shares of the company’s stock valued at $22,630,000 after buying an additional 1,406,500 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Graphic Packaging Holding by 35.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,297,349 shares of the company’s stock valued at $55,221,000 after buying an additional 1,118,472 shares in the last quarter. Finally, Anchor Bolt Capital LP raised its position in shares of Graphic Packaging Holding by 29.0% in the first quarter. Anchor Bolt Capital LP now owns 3,916,183 shares of the company’s stock valued at $50,323,000 after buying an additional 881,467 shares in the last quarter. Institutional investors own 98.13% 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, Flexible Packaging, and Corporate and Other.
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