Wellington Management Group LLP Sells 1,471,631 Shares of Graphic Packaging Holding (NYSE:GPK)

Wellington Management Group LLP trimmed its stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,039,825 shares of the industrial products company's stock after selling 1,471,631 shares during the period. Wellington Management Group LLP owned about 3.01% of Graphic Packaging worth $245,522,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its stake in shares of 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 valued at $30,000 after purchasing an additional 394 shares during the period. Crews Bank & Trust acquired a new stake in Graphic Packaging in the 4th quarter valued at approximately $32,000. Avior Wealth Management LLC lifted its stake in 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 acquiring an additional 1,242 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after acquiring an additional 689 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Graphic Packaging by 58.2% during the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock worth $41,000 after acquiring an additional 549 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GPK. Truist Financial cut their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, March 24th. Robert W. Baird cut their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company upgraded shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $31.37.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock traded down $1.01 during trading on Friday, hitting $25.14. 5,687,175 shares of the stock were exchanged, compared to its average volume of 2,413,166. Graphic Packaging Holding has a 1-year low of $24.50 and a 1-year high of $30.70. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a fifty day moving average price of $26.57 and a 200-day moving average price of $27.90. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71.

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 (EPS) 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 business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned $0.75 EPS. Graphic Packaging's quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities analysts predict 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. Shareholders of record on Saturday, March 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.75%. This is a boost 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%.

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.