NewEdge Wealth LLC Sells 165,498 Shares of Graphic Packaging Holding (NYSE:GPK)

NewEdge Wealth LLC lowered its position in Graphic Packaging Holding (NYSE:GPK - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 894,148 shares of the industrial products company's stock after selling 165,498 shares during the period. NewEdge Wealth LLC owned about 0.30% of Graphic Packaging worth $24,285,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Synergy Asset Management LLC increased its position in shares of Graphic Packaging by 108.6% in the 4th quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company's stock valued at $1,810,000 after buying an additional 33,493 shares in the last quarter. Howard Capital Management Group LLC increased its position in shares of Graphic Packaging by 1.3% in the 4th quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company's stock valued at $27,734,000 after buying an additional 13,175 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Graphic Packaging by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock worth $313,957,000 after purchasing an additional 787,266 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Graphic Packaging during the 4th quarter worth about $51,642,000. Finally, Advocate Group LLC increased its holdings in Graphic Packaging by 14.5% during the 4th quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company's stock worth $6,149,000 after purchasing an additional 28,703 shares in the last quarter. Institutional investors own 99.67% of the company's stock.

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Analysts Set New Price Targets

GPK has been the subject of a number of research reports. Citigroup reiterated a "neutral" rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Truist Financial increased their target price on Graphic Packaging from $30.00 to $32.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Wells Fargo & Company upgraded 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 report 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 research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Graphic Packaging has a consensus rating of "Hold" and a consensus target price of $31.70.

Graphic Packaging Stock Up 1.4 %

Shares of Graphic Packaging stock traded up $0.37 during trading hours on Friday, reaching $26.64. 2,794,588 shares of the company's stock were exchanged, compared to its average volume of 2,353,743. The company has a 50 day moving average of $27.11 and a two-hundred day moving average of $28.45. 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 current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The stock has a market cap of $8.00 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.10 and a beta of 0.84.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its earnings results 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 firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company's revenue for the quarter was down 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be paid a $0.11 dividend. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, March 14th. Graphic Packaging's dividend payout ratio (DPR) is 20.37%.

Graphic Packaging Company 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.