Bank of New York Mellon Corp trimmed its position in Graphic Packaging Holding (NYSE:GPK – Free Report) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,888,212 shares of the industrial products company’s stock after selling 124,397 shares during the quarter. Bank of New York Mellon Corp’s holdings in Graphic Packaging were worth $78,444,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC grew its stake in Graphic Packaging by 14.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 11,133 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 1,376 shares in the last quarter. WealthBridge Capital Management LLC grew its stake in Graphic Packaging by 33.8% in the fourth quarter. WealthBridge Capital Management LLC now owns 10,048 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 2,541 shares in the last quarter. Alberta Investment Management Corp grew its stake in Graphic Packaging by 7.0% in the fourth quarter. Alberta Investment Management Corp now owns 113,423 shares of the industrial products company’s stock worth $3,081,000 after purchasing an additional 7,453 shares in the last quarter. Truist Financial Corp grew its stake in Graphic Packaging by 6.2% in the fourth quarter. Truist Financial Corp now owns 241,302 shares of the industrial products company’s stock worth $6,554,000 after purchasing an additional 14,030 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Graphic Packaging by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 477 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GPK has been the subject of a number of research reports. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $24.00 to $27.00 in a research note on Monday, January 6th. 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. 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, Citigroup reiterated a “neutral” rating and set a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.70.

View Our Latest Research Report on Graphic Packaging

Graphic Packaging Price Performance

Shares of NYSE:GPK opened at $26.13 on Tuesday. Graphic Packaging Holding has a 12 month low of $25.13 and a 12 month high of $30.70. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.10 and a beta of 0.84. The stock’s 50 day moving average price is $27.11 and its 200 day moving average price is $28.46. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54.

Graphic Packaging (NYSE:GPK – Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 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 the consensus estimate of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. Graphic Packaging’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Equities research analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be issued a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.68%. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio is currently 20.37%.

Graphic Packaging Profile

(Free Report)

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.

Further Reading

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