Graphic Packaging (NYSE:GPK) Given New $8.00 Price Target at Wells Fargo & Company

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

A number of other equities research analysts also recently weighed in on the stock. UBS Group dropped their price target on shares of Graphic Packaging from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Truist Financial set a $14.00 price target on shares of Graphic Packaging in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Graphic Packaging in a research report on Wednesday, April 1st. They issued a “hold” rating and a $9.60 price target for the company. Robert W. Baird set a $15.00 price target on shares of Graphic Packaging in a research report on Wednesday, February 4th. Finally, Zacks Research downgraded shares of Graphic Packaging from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Nine analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $14.07.

Graphic Packaging Trading Down 0.8%

Shares of GPK stock opened at $9.72 on Tuesday. The firm has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $14.29. 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 capitalization of $2.87 billion, a PE ratio of 6.57 and a beta of 0.69. Graphic Packaging has a 12-month low of $8.78 and a 12-month high of $25.81.

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

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Sunday, March 15th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, March 13th. This represents a $0.44 annualized dividend and a yield of 4.5%. Graphic Packaging’s dividend payout ratio is presently 29.73%.

Insider Activity

In other Graphic Packaging news, CEO Robbert Rietbroek purchased 44,278 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were bought at an average price of $11.32 per share, for a total transaction of $501,226.96. Following the purchase, the chief executive officer owned 44,278 shares in the company, valued at approximately $501,226.96. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Graphic Packaging

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in shares of Graphic Packaging by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,512,601 shares of the industrial products company’s stock valued at $295,616,000 after purchasing an additional 373,624 shares during the last quarter. Eminence Capital LP increased its stake in shares of Graphic Packaging by 67.5% in the 4th quarter. Eminence Capital LP now owns 12,811,941 shares of the industrial products company’s stock valued at $192,948,000 after purchasing an additional 5,163,806 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Graphic Packaging by 18.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,728,031 shares of the industrial products company’s stock valued at $176,626,000 after purchasing an additional 1,824,110 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Graphic Packaging by 32.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,501,251 shares of the industrial products company’s stock valued at $225,080,000 after purchasing an additional 2,828,094 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Graphic Packaging by 0.8% in the 4th quarter. State Street Corp now owns 9,877,303 shares of the industrial products company’s stock valued at $149,808,000 after purchasing an additional 81,300 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

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.