Envestnet Portfolio Solutions Inc. Has $565,000 Stock Position in Graphic Packaging Holding Company (NYSE:GPK)

Envestnet Portfolio Solutions Inc. lowered its stake in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 37.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,779 shares of the industrial products company's stock after selling 13,081 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Graphic Packaging were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GPK. Sanctuary Advisors LLC raised its position in Graphic Packaging by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company's stock worth $692,000 after purchasing an additional 486 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Graphic Packaging during the 4th quarter worth $1,635,000. Proficio Capital Partners LLC bought a new position in Graphic Packaging during the 4th quarter worth $478,000. Versor Investments LP bought a new position in Graphic Packaging during the 4th quarter worth $220,000. Finally, QRG Capital Management Inc. raised its position in Graphic Packaging by 6.3% during the 4th quarter. QRG Capital Management Inc. now owns 37,555 shares of the industrial products company's stock worth $1,020,000 after purchasing an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company's stock.

Graphic Packaging Stock Down 0.2%

GPK opened at $21.16 on Friday. The company has a market cap of $6.38 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.77 and a beta of 0.74. The business's 50-day moving average price is $22.71 and its 200-day moving average price is $25.32. The company has a current ratio of 1.88, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. Graphic Packaging Holding Company has a 12 month low of $20.86 and a 12 month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.14 billion. Graphic Packaging had a return on equity of 23.68% and a net margin of 7.15%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. On average, equities analysts expect that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 23.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 5th. Investors of record on Sunday, June 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a yield of 2.08%. Graphic Packaging's payout ratio is 21.46%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPK. Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. BNP Paribas Exane lowered Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. BNP Paribas lowered Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday. Finally, Truist Financial lowered their price objective on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Graphic Packaging presently has an average rating of "Hold" and a consensus target price of $28.40.

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.

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