Investment analysts at RBC Capital Markets began coverage on shares of Graphic Packaging Holding Co. (NYSE:GPK) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating and a $17.00 price target on the stock. RBC Capital Markets’ target price would suggest a potential upside of 21.52% from the company’s previous close.
A number of other brokerages have also recently commented on GPK. Zacks Investment Research upgraded shares of Graphic Packaging Holding from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Robert W. Baird restated an “outperform” rating and set a $16.00 target price on shares of Graphic Packaging Holding in a report on Monday, September 19th. Citigroup Inc. boosted their target price on shares of Graphic Packaging Holding from $15.50 to $16.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $16.50 price target on shares of Graphic Packaging Holding in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Graphic Packaging Holding presently has a consensus rating of “Buy” and an average price target of $15.83.
Shares of Graphic Packaging Holding (NYSE:GPK) opened at 13.99 on Thursday. The stock has a market cap of $4.46 billion, a P/E ratio of 18.05 and a beta of 1.57. The company’s 50-day moving average is $14.14 and its 200-day moving average is $13.36. Graphic Packaging Holding has a 12-month low of $10.71 and a 12-month high of $14.70.
Graphic Packaging Holding (NYSE:GPK) last announced 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Graphic Packaging Holding will post $0.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Tuesday, September 13th. Graphic Packaging Holding’s dividend payout ratio (DPR) is 25.97%.
In other Graphic Packaging Holding news, Director Harold R. Logan, Jr. sold 14,568 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $13.99, for a total value of $203,806.32. Following the completion of the transaction, the director now owns 58,076 shares of the company’s stock, valued at approximately $812,483.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.47% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. 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 worth $427,822,000 after buying an additional 9,776,631 shares during the period. Norges Bank acquired a new stake in Graphic Packaging Holding during the fourth quarter valued at approximately $40,497,000. Renaissance Technologies LLC raised its stake in 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 during the last quarter. Goldman Sachs Group Inc. raised its stake in 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 during the last quarter. Finally, Anchor Bolt Capital LP raised its stake in 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 during the last quarter. 98.13% of the stock is owned by institutional investors and hedge funds.
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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