Graphic Packaging (NYSE:GPK) Shares Gap Down to $30.11

Graphic Packaging Holding (NYSE:GPK)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $30.11, but opened at $29.16. Graphic Packaging shares last traded at $28.94, with a volume of 383,103 shares traded.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Truist Financial reiterated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Graphic Packaging in a research report on Wednesday, September 4th. Wells Fargo & Company boosted their price target on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Citigroup lowered their price objective on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Stifel Nicolaus assumed coverage on Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

Graphic Packaging Stock Down 3.3 %

The firm has a 50-day moving average price of $28.81 and a two-hundred day moving average price of $27.97. The company has a market capitalization of $8.95 billion, a P/E ratio of 13.62, a PEG ratio of 5.12 and a beta of 0.83. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The business’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s dividend payout ratio is 18.10%.

Insider Activity

In related news, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Institutional Trading of Graphic Packaging

Large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Graphic Packaging by 41.9% in the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock worth $317,549,000 after acquiring an additional 3,576,877 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Graphic Packaging by 18.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,873,081 shares of the industrial products company’s stock worth $311,193,000 after buying an additional 1,889,525 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Graphic Packaging by 7.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock valued at $251,632,000 after buying an additional 706,486 shares in the last quarter. Eminence Capital LP boosted its holdings in shares of Graphic Packaging by 5.7% in the fourth quarter. Eminence Capital LP now owns 7,962,325 shares of the industrial products company’s stock valued at $196,271,000 after buying an additional 431,818 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Graphic Packaging by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock worth $158,693,000 after acquiring an additional 362,509 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.