Raymond James Financial Inc. Takes $25.67 Million Position in Graphic Packaging Holding (NYSE:GPK)

Raymond James Financial Inc. purchased a new position in Graphic Packaging Holding (NYSE:GPK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 945,103 shares of the industrial products company's stock, valued at approximately $25,669,000. Raymond James Financial Inc. owned approximately 0.31% of Graphic Packaging as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPK. Synergy Asset Management LLC boosted its stake in shares of Graphic Packaging by 108.6% during 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 during the last quarter. Howard Capital Management Group LLC lifted its holdings in Graphic Packaging by 1.3% during the 4th quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company's stock worth $27,734,000 after buying an additional 13,175 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock worth $313,957,000 after acquiring an additional 787,266 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Graphic Packaging in the 4th quarter valued at approximately $51,642,000. Finally, Advocate Group LLC raised its position in shares of Graphic Packaging by 14.5% during the 4th quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company's stock valued at $6,149,000 after acquiring an additional 28,703 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird cut 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 report on Wednesday, February 5th. Wells Fargo & Company raised 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 report on Monday, January 6th. Finally, Truist Financial lifted their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a "hold" rating in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging presently has a consensus rating of "Hold" and an average price target of $31.70.

Graphic Packaging Trading Down 1.9 %

GPK traded down $0.49 during trading on Wednesday, reaching $25.76. The company had a trading volume of 3,027,769 shares, compared to its average volume of 2,513,337. 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 Holding has a 12-month low of $25.13 and a 12-month high of $30.70. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.10 and a beta of 0.81. The firm's 50-day simple moving average is $26.98 and its 200 day simple moving average is $28.24.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced 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). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. Graphic Packaging's revenue for the quarter 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. Equities research analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.71%. Graphic Packaging's dividend payout ratio (DPR) 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.