Graphic Packaging Holding (NYSE:GPK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Graphic Packaging Holding (NYSE:GPK - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,888,212 shares of the industrial products company's stock after selling 124,397 shares during the period. Bank of New York Mellon Corp owned about 0.96% of Graphic Packaging worth $78,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC purchased a new position in Graphic Packaging in the third quarter worth $30,000. Crews Bank & Trust acquired a new position in shares of Graphic Packaging during the 4th quarter worth $32,000. Avior Wealth Management LLC increased its holdings in shares of Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 1,242 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 549 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Graphic Packaging during the third quarter worth about $73,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GPK shares. Citigroup reaffirmed a "neutral" rating and issued a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Robert W. Baird dropped their price objective on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company raised Graphic Packaging from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Truist Financial upped their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a "hold" rating in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Graphic Packaging presently has an average rating of "Hold" and a consensus price target of $31.70.

Remove Ads

Graphic Packaging Price Performance

Shares of GPK traded up $0.87 during trading hours on Friday, reaching $27.57. 2,056,436 shares of the company traded hands, compared to its average volume of 2,314,745. The stock has a market capitalization of $8.28 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. The stock has a fifty day simple moving average of $27.01 and a 200 day simple moving average of $28.39. Graphic Packaging Holding has a fifty-two week low of $25.13 and a fifty-two week high of $30.70. 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 (NYSE:GPK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business's quarterly revenue was down 6.8% compared to the same quarter last year. As a group, research analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. Graphic Packaging's payout ratio 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.