Short Interest in Graphic Packaging Holding (NYSE:GPK) Drops By 10.8%
Graphic Packaging Holding (NYSE:GPK) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 21,009,500 shares, a decrease of 10.8% from the May 30th total of 23,553,000 shares. Based on an average trading volume of 3,800,000 shares, the short-interest ratio is currently 5.5 days. Approximately 7.1% of the shares of the company are short sold.
Several equities analysts have commented on the company. TheStreet raised Secureworks from a “d+” rating to a “c-” rating in a report on Monday, April 22nd. Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a report on Wednesday, April 24th. Citigroup upped their price target on Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Finally, UBS Group upped their price target on W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a report on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.79.
Several institutional investors and hedge funds have recently modified their holdings of GPK. Resources Investment Advisors Inc. acquired a new position in shares of Graphic Packaging in the 4th quarter worth approximately $28,000. Private Capital Group LLC increased its holdings in Graphic Packaging by 210.4% during the 1st quarter. Private Capital Group LLC now owns 2,533 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,717 shares in the last quarter. First Hawaiian Bank increased its holdings in Graphic Packaging by 319.5% during the 1st quarter. First Hawaiian Bank now owns 5,403 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 4,115 shares in the last quarter. Clear Investment Research LLC acquired a new stake in Graphic Packaging during the 1st quarter valued at $134,000. Finally, Creative Planning acquired a new stake in Graphic Packaging during the 1st quarter valued at $135,000.
Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. Graphic Packaging had a return on equity of 12.05% and a net margin of 4.12%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm posted $0.19 EPS. Graphic Packaging’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Graphic Packaging will post 0.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. Graphic Packaging’s payout ratio is presently 37.04%.
About Graphic Packaging
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
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