Graphic Packaging Holding (NYSE:GPK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Graphic Packaging Holding (NYSE:GPK) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,453,222 shares of the industrial products company’s stock after selling 162,317 shares during the period. Principal Financial Group Inc.’s holdings in Graphic Packaging were worth $93,790,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GPK. Truvestments Capital LLC purchased a new stake in shares of Graphic Packaging during the third quarter valued at $30,000. Crews Bank & Trust purchased a new stake in shares of Graphic Packaging during the fourth quarter valued at $32,000. Avior Wealth Management LLC lifted its holdings in shares of Graphic Packaging by 2,484.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,242 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Graphic Packaging by 58.2% during the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 549 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Graphic Packaging during the third quarter valued at $73,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Stock Performance

Shares of GPK stock opened at $27.07 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.72. Graphic Packaging Holding has a fifty-two week low of $23.47 and a fifty-two week high of $30.70. The stock’s 50-day moving average is $27.41 and its two-hundred day moving average is $28.54. The firm has a market cap of $8.12 billion, a P/E ratio of 12.53, a PEG ratio of 2.07 and a beta of 0.84.

Graphic Packaging (NYSE:GPK) last issued its 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 firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts predict that Graphic Packaging Holding will post 2.51 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The company also recently announced 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 positive change from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, March 14th. Graphic Packaging’s dividend payout ratio is presently 18.52%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup reaffirmed a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Truist Financial increased their price objective on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Finally, 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 note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Graphic Packaging has a consensus rating of “Hold” and a consensus target price of $31.70.

Insiders Place Their Bets

In other news, CAO Charles D. Lischer sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the transaction, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

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.