Kingsview Wealth Management LLC Has $9.44 Million Stock Position in Graphic Packaging Holding (NYSE:GPK)

Kingsview Wealth Management LLC grew its holdings in Graphic Packaging Holding (NYSE:GPK) by 14.3% during the 4th quarter, Holdings Channel reports. The firm owned 347,652 shares of the industrial products company’s stock after purchasing an additional 43,394 shares during the period. Kingsview Wealth Management LLC’s holdings in Graphic Packaging were worth $9,442,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GPK. FMR LLC lifted its stake in Graphic Packaging by 12.6% in the third quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock valued at $605,416,000 after buying an additional 2,294,688 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Graphic Packaging by 24.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock valued at $437,945,000 after acquiring an additional 2,927,344 shares during the last quarter. JPMorgan Chase & Co. raised 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 valued at $313,957,000 after acquiring an additional 787,266 shares during the period. Premier Fund Managers Ltd boosted its stake in Graphic Packaging by 9.6% during the 3rd quarter. Premier Fund Managers Ltd now owns 3,441,614 shares of the industrial products company’s stock worth $101,545,000 after acquiring an additional 302,680 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Graphic Packaging in the fourth quarter valued at approximately $51,642,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insider Activity

In other Graphic Packaging news, CAO Charles D. Lischer sold 12,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the sale, the chief accounting officer now owns 49,849 shares in the company, valued at $1,478,022.85. This trade represents a 19.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GPK has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Truist Financial increased their price target on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup reiterated a “neutral” rating and issued a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Wells Fargo & Company upgraded shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Robert W. Baird lowered 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 report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Graphic Packaging presently has an average rating of “Hold” and a consensus price target of $31.70.

Graphic Packaging Price Performance

NYSE GPK opened at $26.48 on Friday. The firm’s 50 day moving average is $27.87 and its 200-day moving average is $28.62. The company has a quick ratio of 0.72, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $7.95 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.84. Graphic Packaging Holding has a 12-month low of $23.47 and a 12-month high of $30.70.

Graphic Packaging (NYSE:GPK) last posted 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 business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. Equities research analysts anticipate that Graphic Packaging Holding will post 2.51 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio is currently 18.52%.

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.