PNC Financial Services Group Inc. Purchases 4,049 Shares of Graphic Packaging Holding (NYSE:GPK)

PNC Financial Services Group Inc. boosted its position in shares of Graphic Packaging Holding (NYSE:GPKFree Report) by 20.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,489 shares of the industrial products company’s stock after purchasing an additional 4,049 shares during the period. PNC Financial Services Group Inc.’s holdings in Graphic Packaging were worth $579,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GPK. FMR LLC increased its position in Graphic Packaging by 67.2% in the 3rd quarter. FMR LLC now owns 10,133,955 shares of the industrial products company’s stock valued at $225,785,000 after acquiring an additional 4,074,508 shares in the last quarter. Norges Bank acquired a new stake in Graphic Packaging in the 4th quarter valued at about $100,387,000. Allspring Global Investments Holdings LLC increased its position in Graphic Packaging by 102.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,928,197 shares of the industrial products company’s stock valued at $121,480,000 after acquiring an additional 2,498,942 shares in the last quarter. Eminence Capital LP increased its position in Graphic Packaging by 27.3% in the 3rd quarter. Eminence Capital LP now owns 7,530,507 shares of the industrial products company’s stock valued at $167,780,000 after acquiring an additional 1,614,914 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Graphic Packaging by 21.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,817,132 shares of the industrial products company’s stock valued at $174,166,000 after acquiring an additional 1,354,359 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GPK shares. Wells Fargo & Company restated an “underweight” rating and issued a $21.00 price objective on shares of Graphic Packaging in a research report on Monday, April 1st. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Robert W. Baird lifted their price target on shares of Graphic Packaging from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Citigroup lifted their price target on shares of Graphic Packaging from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.13.

Get Our Latest Stock Report on Graphic Packaging

Graphic Packaging Stock Up 3.2 %

Shares of NYSE GPK opened at $28.32 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.52 and a current ratio of 1.24. Graphic Packaging Holding has a 52-week low of $20.07 and a 52-week high of $29.50. The firm has a 50 day moving average price of $27.87 and a 200 day moving average price of $26.01. The stock has a market cap of $8.70 billion, a P/E ratio of 12.81, a P/E/G ratio of 10.01 and a beta of 0.86.

Graphic Packaging (NYSE:GPKGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Graphic Packaging had a net margin of 7.36% and a return on equity of 32.55%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. Analysts expect that Graphic Packaging Holding will post 2.69 EPS for the current year.

Graphic Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Saturday, June 15th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, June 14th. Graphic Packaging’s dividend payout ratio is presently 18.10%.

About Graphic Packaging

(Free Report)

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.

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Institutional Ownership by Quarter for Graphic Packaging (NYSE:GPK)

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