Graphic Packaging Holding (NYSE:GPK) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 920.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,176,187 shares of the industrial products company's stock after acquiring an additional 3,767,011 shares during the period. Alliancebernstein L.P. owned 1.39% of Graphic Packaging worth $113,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its stake in Graphic Packaging by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock worth $30,000 after acquiring an additional 394 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of Graphic Packaging by 1.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company's stock worth $1,126,000 after acquiring an additional 401 shares during the period. 1620 Investment Advisors Inc. grew its holdings in Graphic Packaging by 3.8% in the fourth quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 413 shares during the period. CIBC Asset Management Inc raised its stake in Graphic Packaging by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company's stock worth $251,000 after purchasing an additional 477 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in shares of Graphic Packaging by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company's stock valued at $692,000 after buying an additional 486 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

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Analyst Ratings Changes

A number of research firms have issued reports on GPK. Wells Fargo & Company raised Graphic Packaging from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup reiterated 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. Robert W. Baird decreased their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial reduced their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, March 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.37.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock traded down $0.75 during trading hours on Monday, reaching $24.40. The company's stock had a trading volume of 1,197,709 shares, compared to its average volume of 2,408,606. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. Graphic Packaging Holding has a one year low of $23.81 and a one year high of $30.70. The company's 50 day simple moving average is $26.57 and its 200 day simple moving average is $27.90. The stock has a market cap of $7.36 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.04). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm's revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 5th. Investors of record on Saturday, March 15th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Graphic Packaging's previous quarterly dividend of $0.10. Graphic Packaging's dividend payout ratio (DPR) is currently 20.37%.

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.