Federated Hermes Inc. Grows Position in Graphic Packaging Holding (NYSE:GPK)

Federated Hermes Inc. raised its stake in Graphic Packaging Holding (NYSE:GPK - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,478 shares of the industrial products company's stock after purchasing an additional 14,598 shares during the period. Federated Hermes Inc. owned 0.05% of Graphic Packaging worth $4,467,000 as of its most recent SEC filing.

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

Remove Ads

Wall Street Analysts Forecast Growth

GPK has been the subject of a number of research reports. Wells Fargo & Company raised shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $24.00 to $27.00 in a report on Monday, January 6th. 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 research note on Wednesday, February 5th. Citigroup reiterated a "neutral" rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Finally, Truist Financial cut their target price on Graphic Packaging from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, March 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Graphic Packaging currently has a consensus rating of "Hold" and a consensus price target of $31.37.

Graphic Packaging Price Performance

Shares of NYSE GPK traded down $0.17 on Tuesday, hitting $24.86. The company's stock had a trading volume of 1,519,293 shares, compared to its average volume of 2,426,009. The stock has a 50 day moving average of $26.04 and a 200-day moving average of $27.61. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80. Graphic Packaging Holding has a 12-month low of $23.03 and a 12-month high of $30.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54.

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 analysts' consensus estimates of $0.63 by ($0.04). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business's revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. As a group, research analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th were paid a $0.11 dividend. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, March 14th. Graphic Packaging's payout ratio 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.