Hudson Bay Capital Management LP Lowers Holdings in International Paper (NYSE:IP)

Hudson Bay Capital Management LP decreased its holdings in International Paper (NYSE:IP - Free Report) by 53.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,020 shares of the basic materials company's stock after selling 79,980 shares during the quarter. Hudson Bay Capital Management LP's holdings in International Paper were worth $3,768,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IP. Pacer Advisors Inc. lifted its holdings in International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company's stock valued at $1,794,000 after buying an additional 7,424 shares during the period. Wedmont Private Capital acquired a new position in shares of International Paper during the fourth quarter valued at about $376,000. Allspring Global Investments Holdings LLC raised its holdings in shares of International Paper by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company's stock valued at $46,686,000 after purchasing an additional 15,904 shares during the period. Merit Financial Group LLC acquired a new position in shares of International Paper during the fourth quarter valued at about $372,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of International Paper during the fourth quarter valued at about $788,000. Institutional investors own 81.95% of the company's stock.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.35% of the company's stock.

International Paper Stock Up 1.1%

IP stock traded up $0.57 during trading on Friday, reaching $50.14. The stock had a trading volume of 5,154,511 shares, compared to its average volume of 8,089,090. International Paper has a one year low of $40.39 and a one year high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $48.70 and its two-hundred day moving average is $53.38. The company has a market capitalization of $26.47 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 0.39 and a beta of 1.03.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.75% and a net margin of 2.99%. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the company posted $0.17 earnings per share. The company's revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper's dividend payout ratio (DPR) is 158.12%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IP shares. Truist Financial dropped their price objective on shares of International Paper from $64.00 to $59.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. StockNews.com lowered shares of International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price objective (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Citigroup assumed coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 target price for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $64.00 target price on shares of International Paper in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $54.21.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.