Trade Report: The Graphic Packaging Holding Co. (GPK) Lowered to Neutral at Bank of America Corp.

The Graphic Packaging Holding Co. (GPK) Lowered to Neutral at Bank of America Corp.

Bank of America Corp. cut shares of Graphic Packaging Holding Co. (NYSE:GPK) from a buy rating to a neutral rating in a report issued on Monday morning.

Other equities research analysts have also issued reports about the company. Citigroup Inc. lifted their price target on Graphic Packaging Holding from $15.50 to $16.00 and gave the company a buy rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded Graphic Packaging Holding from a sell rating to a hold rating in a report on Friday, August 26th. Royal Bank Of Canada initiated coverage on Graphic Packaging Holding in a report on Friday, September 30th. They set an outperform rating and a $17.00 price target for the company. RBC Capital Markets initiated coverage on Graphic Packaging Holding in a report on Thursday, September 29th. They set an outperform rating and a $17.00 price target for the company. Finally, Robert W. Baird reiterated an outperform rating and set a $16.00 price target on shares of Graphic Packaging Holding in a report on Monday, September 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $15.83.

Shares of Graphic Packaging Holding (NYSE:GPK) opened at 13.79 on Monday. The firm has a market cap of $4.40 billion, a P/E ratio of 17.79 and a beta of 1.47. Graphic Packaging Holding has a 52-week low of $10.71 and a 52-week high of $14.70. The stock’s 50 day moving average is $14.11 and its 200-day moving average is $13.38.

Graphic Packaging Holding (NYSE:GPK) last released its earnings results on Tuesday, July 26th. The company reported $0.19 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Graphic Packaging Holding had a return on equity of 23.10% and a net margin of 5.97%. The company 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 business’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts anticipate that Graphic Packaging Holding will post $0.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.45%. Graphic Packaging Holding’s dividend payout ratio (DPR) is currently 25.97%.

In other Graphic Packaging Holding news, Director Harold R. Logan, Jr. sold 14,568 shares of Graphic Packaging Holding stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $13.99, for a total value of $203,806.32. Following the transaction, the director now directly owns 58,076 shares of the company’s stock, valued at approximately $812,483.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.47% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased 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 valued at $427,822,000 after buying an additional 9,776,631 shares in the last quarter. Norges Bank acquired a new position in shares of Graphic Packaging Holding during the fourth quarter valued at approximately $40,497,000. Renaissance Technologies LLC increased its position in shares of 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 in the last quarter. Finally, Anchor Bolt Capital LP increased its position in shares of 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 in the last quarter. 98.13% of the stock is currently owned by institutional investors.

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