Truist Financial Corp Lowers Position in Graphic Packaging Holding (NYSE:GPK)

Truist Financial Corp lowered its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,900 shares of the industrial products company’s stock after selling 10,428 shares during the period. Truist Financial Corp’s holdings in Graphic Packaging were worth $4,804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in shares of Graphic Packaging in the 4th quarter worth $44,000. Venturi Wealth Management LLC raised its holdings in shares of Graphic Packaging by 39.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,372 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 673 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Graphic Packaging by 44.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,476 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 759 shares during the period. CVA Family Office LLC purchased a new stake in shares of Graphic Packaging during the 4th quarter worth about $62,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Graphic Packaging during the 4th quarter worth about $64,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GPK. Citigroup raised their target price on shares of Graphic Packaging from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Wells Fargo & Company reissued an “underweight” rating and issued a $21.00 price objective on shares of Graphic Packaging in a research report on Monday, April 1st. Robert W. Baird raised their price objective on Graphic Packaging from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Graphic Packaging presently has an average rating of “Hold” and a consensus price target of $28.13.

Graphic Packaging Stock Up 0.9 %

NYSE:GPK opened at $27.09 on Monday. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.40 and a beta of 0.86. Graphic Packaging Holding has a one year low of $20.07 and a one year high of $29.50. The stock has a 50-day simple moving average of $27.53 and a 200 day simple moving average of $25.16. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.42 and a current ratio of 1.24.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. Sell-side analysts predict that Graphic Packaging Holding will post 2.69 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. Graphic Packaging’s payout ratio is currently 18.10%.

Insider Buying and Selling at Graphic Packaging

In other news, EVP Joseph P. Yost sold 70,000 shares of Graphic Packaging stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the sale, the executive vice president now owns 205,231 shares of the company’s stock, valued at $5,377,052.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

About Graphic Packaging

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.