Covalis Capital LLP Acquires Shares of 27,091 Graphic Packaging Holding (NYSE:GPK)

Covalis Capital LLP purchased a new stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,091 shares of the industrial products company's stock, valued at approximately $736,000.

A number of other institutional investors have also recently made changes to their positions in GPK. Picton Mahoney Asset Management increased its position in Graphic Packaging by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock worth $30,000 after buying an additional 394 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Graphic Packaging by 3.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company's stock valued at $303,000 after acquiring an additional 413 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Graphic Packaging by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company's stock valued at $251,000 after purchasing an additional 477 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Graphic Packaging by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company's stock valued at $692,000 after acquiring an additional 486 shares during the period. Finally, Keynote Financial Services LLC boosted its position in shares of Graphic Packaging by 6.9% during the fourth quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company's stock valued at $207,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Price Performance

Shares of NYSE:GPK traded up $0.07 during midday trading on Thursday, hitting $25.24. 969,361 shares of the stock were exchanged, compared to its average volume of 2,598,460. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The company has a 50 day moving average price of $25.83 and a 200-day moving average price of $27.44. The stock has a market cap of $7.61 billion, a P/E ratio of 11.68, a PEG ratio of 2.10 and a beta of 0.80. Graphic Packaging Holding has a twelve month low of $23.02 and a twelve month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business's revenue for the quarter was down 6.8% on a year-over-year basis. On average, research analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. The ex-dividend date was Friday, March 14th. Graphic Packaging's payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GPK. Truist Financial cut their price target on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday. Raymond James decreased their target price on shares of Graphic Packaging from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday. Wells Fargo & Company raised shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $24.00 to $27.00 in a report on Monday, January 6th. Robert W. Baird decreased their target price on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup reissued a "neutral" rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.89.

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.