Graphic Packaging Holding (NYSE:GPK) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in Graphic Packaging Holding (NYSE:GPK - Free Report) by 592.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,665 shares of the industrial products company's stock after acquiring an additional 134,910 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Graphic Packaging worth $4,282,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Picton Mahoney Asset Management increased its holdings in 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 purchasing an additional 394 shares during the period. Steward Partners Investment Advisory LLC grew its position 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 buying an additional 689 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in Graphic Packaging in the fourth quarter valued at approximately $43,000. Park Square Financial Group LLC acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at $79,000. Finally, Atala Financial Inc purchased a new position in Graphic Packaging in the fourth quarter valued at $109,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

Shares of GPK stock traded up $0.10 during trading hours on Thursday, hitting $22.08. The stock had a trading volume of 2,540,150 shares, compared to its average volume of 2,541,077. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The firm has a market capitalization of $6.66 billion, a PE ratio of 10.22, a PEG ratio of 2.10 and a beta of 0.81. The stock's 50 day moving average is $23.77 and its 200 day moving average is $26.19. Graphic Packaging Holding has a twelve month low of $20.86 and a twelve month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently declared 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, June 13th. Graphic Packaging's dividend payout ratio is currently 21.46%.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on GPK shares. 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. Raymond James reaffirmed an "outperform" rating and issued a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Royal Bank of Canada dropped their price target on shares of Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. UBS Group initiated coverage on shares of Graphic Packaging in a research report on Wednesday. They set a "neutral" rating and a $24.00 price objective for the company. Finally, Robert W. Baird dropped their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.53.

Graphic Packaging Company 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.