Wells Fargo & Company Cuts Graphic Packaging (NYSE:GPK) Price Target to $8.00

Graphic Packaging (NYSE:GPK) had its price objective decreased by Wells Fargo & Company from $9.00 to $8.00 in a research report sent to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on the company. Citigroup dropped their price target 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. UBS Group dropped their price target on Graphic Packaging from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Robert W. Baird set a $15.00 price target on Graphic Packaging in a research report on Wednesday, February 4th. Zacks Research downgraded Graphic Packaging from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Finally, Truist Financial set a $14.00 price target on Graphic Packaging in a research report on Wednesday, February 4th. Nine analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $13.73.

Graphic Packaging Stock Down 1.4%

Shares of NYSE GPK opened at $9.55 on Tuesday. Graphic Packaging has a 52 week low of $8.78 and a 52 week high of $25.81. The business has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $14.23. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The company has a market cap of $2.82 billion, a P/E ratio of 6.45 and a beta of 0.69.

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

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Sunday, March 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, March 13th. Graphic Packaging’s dividend payout ratio (DPR) is currently 29.73%.

Insider Buying and Selling at Graphic Packaging

In other news, CEO Robbert Rietbroek acquired 44,278 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average cost of $11.32 per share, with a total value of $501,226.96. Following the acquisition, the chief executive officer owned 44,278 shares in the company, valued at approximately $501,226.96. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Graphic Packaging

Large investors have recently modified their holdings of the company. Quarry LP raised its holdings in shares of Graphic Packaging by 282.0% during the 3rd quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,142 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Graphic Packaging by 13,971.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,956 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Graphic Packaging during the 3rd quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Graphic Packaging by 649.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,039 shares of the industrial products company’s stock valued at $31,000 after buying an additional 1,767 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Graphic Packaging by 65.2% during the 3rd quarter. Global Retirement Partners LLC now owns 2,291 shares of the industrial products company’s stock valued at $45,000 after buying an additional 904 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other 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.