Graphic Packaging Holding (NYSE:GPK) Declares $0.11 Quarterly Dividend

Graphic Packaging Holding (NYSE:GPK - Get Free Report) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Sunday, June 15th will be given a dividend of 0.11 per share by the industrial products company on Saturday, July 5th. This represents a $0.44 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th.

Graphic Packaging has raised its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 1 years. Graphic Packaging has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Graphic Packaging to earn $2.73 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 16.1%.

Graphic Packaging Trading Up 1.8%

NYSE:GPK traded up $0.40 during mid-day trading on Tuesday, hitting $22.99. 1,257,602 shares of the stock traded hands, compared to its average volume of 2,831,823. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. Graphic Packaging has a 52 week low of $20.86 and a 52 week high of $30.70. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 2.10 and a beta of 0.81. The firm's 50 day moving average is $24.25 and its two-hundred day moving average is $26.47.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The business had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.14 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities research analysts predict that Graphic Packaging will post 2.47 earnings per share for the current year.

Hedge Funds Weigh In On Graphic Packaging

An institutional investor recently raised its position in Graphic Packaging stock. AQR Capital Management LLC boosted its position in Graphic Packaging Holding (NYSE:GPK - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 171,608 shares of the industrial products company's stock after purchasing an additional 45,944 shares during the quarter. AQR Capital Management LLC owned about 0.06% of Graphic Packaging worth $4,453,000 at the end of the most recent reporting period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the industrial products company to buy up to 23.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on GPK shares. Royal Bank of Canada lowered their target price on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Truist Financial lowered their price target on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird dropped their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, Raymond James reiterated an "outperform" rating and issued a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

About Graphic Packaging

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.