Graphic Packaging (NYSE:GPK) Given New $24.00 Price Target at Wells Fargo & Company

Graphic Packaging (NYSE:GPK) had its target price increased by Wells Fargo & Company from $21.00 to $24.00 in a report issued on Wednesday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the company. Truist Financial reaffirmed a buy rating and issued a $35.00 price target (up previously from $33.00) on shares of Graphic Packaging in a report on Wednesday. Robert W. Baird upped their target price on Graphic Packaging from $30.00 to $36.00 and gave the company an outperform rating in a report on Wednesday. Citigroup dropped their price target on Graphic Packaging from $31.00 to $30.00 and set a buy rating on the stock in a research note on Monday, July 8th. Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They set a buy rating and a $35.20 price objective on the stock. Finally, StockNews.com cut Graphic Packaging from a buy rating to a hold rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $31.15.

Graphic Packaging Trading Down 2.1 %

Shares of Graphic Packaging stock opened at $28.92 on Wednesday. The business has a fifty day simple moving average of $27.38 and a 200-day simple moving average of $27.07. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 5.10 and a beta of 0.84. Graphic Packaging has a fifty-two week low of $20.07 and a fifty-two week high of $30.66. The company has a quick ratio of 0.52, a current ratio of 1.45 and a debt-to-equity ratio of 1.75.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. Graphic Packaging’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. On average, equities analysts forecast that Graphic Packaging will post 2.72 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s payout ratio is presently 18.10%.

Hedge Funds Weigh In On Graphic Packaging

Several hedge funds have recently bought and sold shares of GPK. Markel Group Inc. increased its holdings in shares of Graphic Packaging by 39.0% during the 2nd quarter. Markel Group Inc. now owns 334,725 shares of the industrial products company’s stock valued at $8,773,000 after acquiring an additional 93,901 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Graphic Packaging by 7.5% in the 2nd quarter. Hodges Capital Management Inc. now owns 357,874 shares of the industrial products company’s stock worth $9,380,000 after purchasing an additional 24,869 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Graphic Packaging during the second quarter worth approximately $524,000. Fiduciary Family Office LLC grew its holdings in Graphic Packaging by 2.6% during the second quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 423 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Graphic Packaging by 4.4% in the second quarter. Natixis Advisors LLC now owns 74,748 shares of the industrial products company’s stock valued at $1,959,000 after purchasing an additional 3,172 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Company Profile

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.