Rinkey Investments Invests $279,000 in Graphic Packaging Holding (NYSE:GPK)

Rinkey Investments purchased a new position in Graphic Packaging Holding (NYSE:GPK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,275 shares of the industrial products company's stock, valued at approximately $279,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Picton Mahoney Asset Management increased its stake 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 in the last quarter. 1620 Investment Advisors Inc. increased its stake in Graphic Packaging by 3.8% during the 4th quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company's stock worth $303,000 after purchasing an additional 413 shares in the last quarter. CIBC Asset Management Inc increased its stake in Graphic Packaging by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company's stock worth $251,000 after purchasing an additional 477 shares in the last quarter. Sanctuary Advisors LLC increased its stake 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 in the last quarter. Finally, Keynote Financial Services LLC increased its stake in Graphic Packaging by 6.9% during the 4th quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company's stock worth $207,000 after purchasing an additional 492 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating and set a $30.00 price target (down from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Raymond James decreased their price target on shares of Graphic Packaging from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird decreased their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company raised shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Truist Financial decreased their price target on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Four equities 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $30.89.

Graphic Packaging Stock Down 14.9 %

Shares of NYSE GPK traded down $3.78 during trading hours on Thursday, hitting $21.53. The company had a trading volume of 7,003,728 shares, compared to its average volume of 2,654,140. The stock has a market capitalization of $6.50 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80. 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 1-year low of $21.17 and a 1-year high of $30.70. The firm's 50 day moving average is $25.66 and its 200-day moving average is $27.32.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly 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 analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.66 EPS. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th were issued a dividend of $0.11 per share. This is an increase from Graphic Packaging's previous quarterly dividend of $0.10. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 2.04%. Graphic Packaging's dividend payout ratio (DPR) is currently 20.37%.

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.