Envestnet Asset Management Inc. Purchases 140,890 Shares of Graphic Packaging Holding Company (NYSE:GPK)

Envestnet Asset Management Inc. lifted its position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 21.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 790,496 shares of the industrial products company's stock after purchasing an additional 140,890 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Graphic Packaging worth $20,521,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after purchasing an additional 689 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Graphic Packaging during the first quarter worth $42,000. Mizuho Bank Ltd. bought a new stake in shares of Graphic Packaging during the fourth quarter worth $43,000. UMB Bank n.a. grew its holdings in shares of Graphic Packaging by 42.3% during the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock worth $55,000 after purchasing an additional 632 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in shares of Graphic Packaging during the fourth quarter worth $79,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

GPK traded down $0.18 during trading on Friday, hitting $22.44. The stock had a trading volume of 3,481,144 shares, compared to its average volume of 2,643,326. The company has a 50 day moving average price of $22.16 and a 200-day moving average price of $24.64. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 10.95 and a beta of 0.71. Graphic Packaging Holding Company has a one year low of $20.86 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.88 and a quick ratio of 0.73.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. Graphic Packaging had a net margin of 7.15% and a return on equity of 23.68%. Graphic Packaging's revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, research analysts predict that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 23.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 5th. Investors of record on Sunday, June 15th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.96%. Graphic Packaging's dividend payout ratio is currently 21.46%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPK. Bank of America cut their target price on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Truist Financial dropped their target price on Graphic Packaging from $24.00 to $23.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Wells Fargo & Company lifted their target price on Graphic Packaging from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Friday. UBS Group assumed coverage on Graphic Packaging in a research report on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 target price on the stock. Finally, BNP Paribas Exane lowered Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday, June 25th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.38.

Graphic Packaging 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.