Mackenzie Financial Corp Sells 100,123 Shares of Graphic Packaging Holding (NYSE:GPK)

Mackenzie Financial Corp lessened its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 84.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,477 shares of the industrial products company's stock after selling 100,123 shares during the quarter. Mackenzie Financial Corp's holdings in Graphic Packaging were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in shares of Graphic Packaging by 55.4% during the 4th 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 during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 689 shares during the last quarter. Mizuho Bank Ltd. bought a new stake in Graphic Packaging in the 4th quarter valued at $43,000. Atala Financial Inc bought a new stake in Graphic Packaging in the 4th quarter valued at $109,000. Finally, Transce3nd LLC purchased a new position in shares of Graphic Packaging in the 4th quarter worth $161,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on GPK. Raymond James reissued an "outperform" rating and issued a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. UBS Group started coverage on Graphic Packaging in a research report on Wednesday. They set a "neutral" rating and a $24.00 target price on the stock. Truist Financial lowered their price target 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. Finally, Royal Bank of Canada cut their price objective on shares of Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.53.

Graphic Packaging Trading Up 0.7%

Shares of NYSE:GPK traded up $0.14 during trading hours on Friday, hitting $22.25. 1,900,217 shares of the company's stock traded hands, compared to its average volume of 2,539,063. Graphic Packaging Holding has a 1 year low of $20.86 and a 1 year high of $30.70. The business has a fifty day moving average price of $23.62 and a 200-day moving average price of $26.08. The firm has a market capitalization of $6.72 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 2.10 and a beta of 0.74. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced 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). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the firm earned $0.66 EPS. The firm's quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging announced that its Board of Directors has authorized a share 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 reacquire up to 23.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 5th. Investors of record on Sunday, June 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.98%. Graphic Packaging's payout ratio is 21.46%.

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.