Envestnet Asset Management Inc. Cuts Stock Position in Graphic Packaging Holding (NYSE:GPK)

Envestnet Asset Management Inc. trimmed its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,606 shares of the industrial products company's stock after selling 69,527 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Graphic Packaging worth $17,643,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GPK. Alliancebernstein L.P. boosted its position in Graphic Packaging by 920.6% during the fourth quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company's stock valued at $113,425,000 after purchasing an additional 3,767,011 shares in the last quarter. Norges Bank bought a new stake in shares of Graphic Packaging in the 4th quarter valued at about $98,268,000. Hennessy Advisors Inc. bought a new position in shares of Graphic Packaging during the 4th quarter worth approximately $51,642,000. Allspring Global Investments Holdings LLC lifted its position in Graphic Packaging by 11.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company's stock valued at $441,990,000 after acquiring an additional 1,702,764 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new position in Graphic Packaging in the fourth quarter worth $34,131,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Stock Performance

Shares of NYSE:GPK traded up $0.06 during midday trading on Friday, reaching $24.50. The company's stock had a trading volume of 2,854,454 shares, compared to its average volume of 2,430,734. 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 stock has a fifty day moving average of $25.93 and a 200 day moving average of $27.50. Graphic Packaging Holding has a twelve month low of $23.03 and a twelve month high of $30.70. The firm has a market capitalization of $7.39 billion, a PE ratio of 11.34, a P/E/G ratio of 2.10 and a beta of 0.80.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $2.15 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business's quarterly revenue was down 6.8% on a year-over-year basis. On average, equities analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.80%. This is a positive change from Graphic Packaging's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 14th. Graphic Packaging's payout ratio is 20.37%.

Analyst Ratings Changes

Several brokerages recently weighed in on GPK. Citigroup restated a "neutral" rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Wells Fargo & Company raised shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Truist Financial cut their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, March 24th. Finally, Robert W. Baird dropped their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.