Massachusetts Financial Services Co. MA Sells 34,737 Shares of Graphic Packaging Holding (NYSE:GPK)

Massachusetts Financial Services Co. MA lessened its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,569,683 shares of the industrial products company's stock after selling 34,737 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.19% of Graphic Packaging worth $259,913,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GPK. Picton Mahoney Asset Management increased 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 during the period. Crews Bank & Trust acquired a new stake in Graphic Packaging during the fourth quarter valued at approximately $32,000. Avior Wealth Management LLC grew its stake 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 during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after buying an additional 689 shares in the last quarter. Finally, UMB Bank n.a. lifted its position 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 buying an additional 549 shares during the period. Institutional investors and hedge funds own 99.67% of the company's stock.

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Graphic Packaging Price Performance

Shares of GPK stock traded up $1.15 during trading hours on Wednesday, reaching $24.75. 4,375,377 shares of the company were exchanged, compared to its average volume of 2,433,032. Graphic Packaging Holding has a fifty-two week low of $23.03 and a fifty-two week 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. The stock's fifty day moving average is $26.21 and its two-hundred day moving average is $27.74. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.10 and a beta of 0.80.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm's quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. Sell-side analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The firm also recently announced 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. The ex-dividend date was Friday, March 14th. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.78%. Graphic Packaging's dividend payout ratio is presently 20.37%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GPK. Citigroup reiterated a "neutral" rating and set a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Wells Fargo & Company upgraded shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Truist Financial decreased 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 note on Monday, March 24th. Finally, Robert W. Baird dropped 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $31.37.

Graphic Packaging Profile

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.