Graphic Packaging (NYSE:GPK) Hits New 52-Week High – Still a Buy?

Graphic Packaging Holding (NYSE:GPK) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $30.70 and last traded at $30.69, with a volume of 884214 shares trading hands. The stock had previously closed at $29.66.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada decreased their price objective on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus started coverage on Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price on the stock. Citigroup decreased their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Truist Financial cut their price objective on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.87.

Graphic Packaging Stock Performance

The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 10.94 and a beta of 0.83. The firm has a fifty day simple moving average of $29.37 and a two-hundred day simple moving average of $28.16.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, analysts expect that Graphic Packaging Holding will post 2.65 EPS for the current year.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.32%. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Insider Buying and Selling at Graphic Packaging

In other news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now directly owns 1,909,576 shares in the company, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPK. BNP Paribas acquired a new stake in Graphic Packaging during the first quarter worth about $935,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Graphic Packaging by 43.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 202,727 shares of the industrial products company’s stock worth $5,916,000 after purchasing an additional 61,102 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Graphic Packaging by 171.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock valued at $17,631,000 after purchasing an additional 381,112 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Graphic Packaging by 4.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 832,035 shares of the industrial products company’s stock valued at $23,907,000 after purchasing an additional 33,691 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Graphic Packaging by 99.6% during the first quarter. Cetera Investment Advisers now owns 104,490 shares of the industrial products company’s stock worth $3,049,000 after buying an additional 52,139 shares in the last quarter. 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.