Oppenheimer Asset Management Inc. Decreases Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Oppenheimer Asset Management Inc. cut its stake in Graphic Packaging Holding (NYSE:GPK - Free Report) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,173 shares of the industrial products company's stock after selling 122,922 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of Graphic Packaging worth $7,039,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GPK. Howard Capital Management Group LLC raised its stake in Graphic Packaging by 0.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company's stock valued at $29,826,000 after buying an additional 2,969 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Graphic Packaging by 26.1% in the third quarter. Private Advisor Group LLC now owns 27,575 shares of the industrial products company's stock worth $816,000 after acquiring an additional 5,699 shares during the period. State of Alaska Department of Revenue increased its position in Graphic Packaging by 5.0% during the third quarter. State of Alaska Department of Revenue now owns 34,865 shares of the industrial products company's stock valued at $1,031,000 after acquiring an additional 1,660 shares during the last quarter. Stephens Inc. AR lifted its holdings in Graphic Packaging by 4.2% in the third quarter. Stephens Inc. AR now owns 36,227 shares of the industrial products company's stock valued at $1,072,000 after acquiring an additional 1,455 shares during the period. Finally, Lebenthal Global Advisors LLC purchased a new position in Graphic Packaging in the third quarter worth about $217,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

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Graphic Packaging Price Performance

Shares of GPK traded up $0.00 during mid-day trading on Tuesday, reaching $26.15. The stock had a trading volume of 1,184,180 shares, compared to its average volume of 2,307,855. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 2.10 and a beta of 0.84. Graphic Packaging Holding has a 12 month low of $25.13 and a 12 month high of $30.70. The business has a fifty day moving average of $27.09 and a 200 day moving average of $28.44. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company's quarterly revenue was down 6.8% on a year-over-year basis. Equities analysts predict 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 issued a $0.11 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. Graphic Packaging's payout ratio is currently 20.37%.

Analyst Ratings Changes

Several research firms have recently commented on GPK. Citigroup reaffirmed a "neutral" rating and set a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird decreased 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 lifted their price target for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Truist Financial upped their price objective on Graphic Packaging from $30.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $31.70.

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.