Nuveen Asset Management LLC Sells 22,308 Shares of Graphic Packaging Holding (NYSE:GPK)

Nuveen Asset Management LLC trimmed its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 612,884 shares of the industrial products company's stock after selling 22,308 shares during the period. Nuveen Asset Management LLC owned about 0.20% of Graphic Packaging worth $16,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. NorthRock Partners LLC lifted its position in shares of Graphic Packaging by 101.9% in the fourth quarter. NorthRock Partners LLC now owns 30,536 shares of the industrial products company's stock valued at $829,000 after acquiring an additional 15,408 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Graphic Packaging by 575.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,300 shares of the industrial products company's stock valued at $3,974,000 after acquiring an additional 177,100 shares in the last quarter. Millennium Management LLC lifted its position in shares of Graphic Packaging by 106.5% in the fourth quarter. Millennium Management LLC now owns 105,601 shares of the industrial products company's stock valued at $2,868,000 after acquiring an additional 54,466 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in shares of Graphic Packaging by 8.3% in the fourth quarter. Hudson Bay Capital Management LP now owns 130,000 shares of the industrial products company's stock valued at $3,531,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of Graphic Packaging by 783.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,059,988 shares of the industrial products company's stock valued at $28,789,000 after acquiring an additional 940,035 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPK has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their target price on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Truist Financial decreased their target price on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird decreased their target price on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Raymond James reiterated an "outperform" rating and issued a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Graphic Packaging Trading Down 0.6%

NYSE GPK traded down $0.14 during trading hours on Thursday, hitting $22.24. 484,385 shares of the company were exchanged, compared to its average volume of 2,837,155. The stock has a 50-day moving average price of $24.13 and a 200 day moving average price of $26.41. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. Graphic Packaging Holding has a 52 week low of $20.86 and a 52 week high of $30.70. The stock has a market cap of $6.71 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued 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). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. Analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

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

Graphic Packaging declared that its board has approved a share 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 shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

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.