Corebridge Financial Inc. Sells 15,278 Shares of Graphic Packaging Holding (NYSE:GPK)

Corebridge Financial Inc. trimmed its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 339,595 shares of the industrial products company's stock after selling 15,278 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Graphic Packaging worth $9,223,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Howard Capital Management Group LLC grew its holdings in Graphic Packaging by 0.3% in the third quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company's stock worth $29,826,000 after purchasing an additional 2,969 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Graphic Packaging in the 3rd quarter valued at about $343,000. Cerity Partners LLC increased its position in Graphic Packaging by 18.2% in the 3rd quarter. Cerity Partners LLC now owns 21,935 shares of the industrial products company's stock valued at $649,000 after buying an additional 3,376 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Graphic Packaging during the 3rd quarter worth approximately $886,000. Finally, Truvestments Capital LLC bought a new position in Graphic Packaging in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

GPK has been the subject of several recent research reports. Truist Financial decreased their price objective on Graphic Packaging from $31.00 to $30.00 and set a "hold" rating for the company in a report on Monday, March 24th. Citigroup restated a "neutral" rating and set a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Wells Fargo & Company raised shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Robert W. Baird reduced their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $31.37.

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Graphic Packaging Stock Up 1.0 %

GPK traded up $0.27 during mid-day trading on Tuesday, reaching $26.23. 2,167,726 shares of the stock were exchanged, compared to its average volume of 2,392,810. Graphic Packaging Holding has a 1 year low of $24.50 and a 1 year high of $30.70. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. The stock has a market capitalization of $7.87 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a 50 day moving average price of $26.67 and a two-hundred day moving average price of $27.99.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, research analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. Graphic Packaging's dividend payout ratio (DPR) is presently 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.