Graphic Packaging Holding (NYSE:GPK) Stock Position Lowered by Premier Fund Managers Ltd

Premier Fund Managers Ltd cut its position in Graphic Packaging Holding (NYSE:GPK) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,432,714 shares of the industrial products company’s stock after selling 8,900 shares during the quarter. Graphic Packaging accounts for 3.3% of Premier Fund Managers Ltd’s portfolio, making the stock its 2nd largest position. Premier Fund Managers Ltd’s holdings in Graphic Packaging were worth $93,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPK. Truvestments Capital LLC bought a new stake in Graphic Packaging in the third quarter valued at about $30,000. Picton Mahoney Asset Management boosted its stake in Graphic Packaging by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 394 shares during the period. Crews Bank & Trust bought a new stake in Graphic Packaging during the 4th quarter valued at $32,000. Avior Wealth Management LLC grew its position in 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 buying an additional 1,242 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake 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. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Stock Up 1.0 %

Graphic Packaging stock opened at $26.06 on Friday. Graphic Packaging Holding has a 12-month low of $24.50 and a 12-month high of $30.70. The company has a market capitalization of $7.82 billion, a PE ratio of 12.06, a PEG ratio of 2.10 and a beta of 0.81. The firm’s fifty day moving average is $26.79 and its 200 day moving average is $28.08. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 14th. Graphic Packaging’s payout ratio is presently 20.37%.

Analyst Ratings Changes

Several brokerages recently commented on GPK. Citigroup restated a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Robert W. Baird reduced their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial decreased their price objective on Graphic Packaging from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.37.

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.