Advisory Services Network LLC boosted its stake in Graphic Packaging Holding (NYSE:GPK – Free Report) by 42.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,011 shares of the industrial products company’s stock after buying an additional 4,439 shares during the quarter. Advisory Services Network LLC’s holdings in Graphic Packaging were worth $408,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Invesco Ltd. boosted its position in Graphic Packaging by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,664,131 shares of the industrial products company’s stock valued at $45,198,000 after purchasing an additional 98,367 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Graphic Packaging by 7.1% during the 4th quarter. Cerity Partners LLC now owns 23,482 shares of the industrial products company’s stock worth $657,000 after purchasing an additional 1,547 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Graphic Packaging by 9.7% in the 4th quarter. Federated Hermes Inc. now owns 164,478 shares of the industrial products company’s stock valued at $4,467,000 after buying an additional 14,598 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Graphic Packaging by 32.0% in the 4th quarter. Russell Investments Group Ltd. now owns 70,831 shares of the industrial products company’s stock valued at $1,924,000 after buying an additional 17,183 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Graphic Packaging in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 99.67% of the company’s stock.
Graphic Packaging Stock Down 1.4 %
GPK stock opened at $24.48 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The company has a 50-day moving average of $26.00 and a two-hundred day moving average of $27.59. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80. Graphic Packaging Holding has a 52-week low of $23.03 and a 52-week high of $30.70.
Graphic Packaging Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Saturday, April 5th. Investors of record on Saturday, March 15th were paid a dividend of $0.11 per share. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, March 14th. Graphic Packaging’s dividend payout ratio is presently 20.37%.
Analysts Set New Price Targets
Several analysts have commented on the stock. Wells Fargo & Company raised shares of 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 research report on Monday, January 6th. Citigroup reissued a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird reduced their price target 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 lowered 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, March 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.37.
View Our Latest Stock Analysis on Graphic Packaging
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.
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