Premier Fund Managers Ltd Lowers Stock Position in Graphic Packaging Holding (NYSE:GPK)

Premier Fund Managers Ltd trimmed its position in shares of Graphic Packaging Holding (NYSE:GPK) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,432,714 shares of the industrial products company’s stock after selling 8,900 shares during the period. Graphic Packaging makes up approximately 3.3% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 2nd largest position. Premier Fund Managers Ltd owned about 1.14% of Graphic Packaging worth $93,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management boosted its holdings in Graphic Packaging by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 394 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in Graphic Packaging by 1.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company’s stock worth $1,126,000 after purchasing an additional 401 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Graphic Packaging by 3.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 413 shares during the period. CIBC Asset Management Inc lifted its position in Graphic Packaging by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 477 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Graphic Packaging by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock worth $692,000 after buying an additional 486 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Performance

NYSE GPK opened at $26.06 on Friday. The business’s 50-day moving average price is $26.79 and its 200 day moving average price 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. The firm has a market cap of $7.82 billion, a P/E ratio of 12.06, a P/E/G ratio of 2.10 and a beta of 0.81. Graphic Packaging Holding has a 52-week low of $24.50 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business earned $0.75 earnings per share. Graphic Packaging’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts expect 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 $0.11 dividend. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 1.69%. Graphic Packaging’s dividend payout ratio is presently 20.37%.

Analysts Set New Price Targets

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

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.