Envestnet Asset Management Inc. Has $17.64 Million Position in Graphic Packaging Holding (NYSE:GPK)

Envestnet Asset Management Inc. lowered its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 649,606 shares of the industrial products company’s stock after selling 69,527 shares during the quarter. Envestnet Asset Management Inc. owned about 0.22% of Graphic Packaging worth $17,643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GPK. Synergy Asset Management LLC increased its stake in shares of Graphic Packaging by 108.6% in the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company’s stock worth $1,810,000 after purchasing an additional 33,493 shares during the period. Howard Capital Management Group LLC grew its holdings in Graphic Packaging by 1.3% in the 4th quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company’s stock valued at $27,734,000 after buying an additional 13,175 shares during the last quarter. JPMorgan Chase & Co. increased its position in Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after buying an additional 787,266 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Graphic Packaging during the fourth quarter worth approximately $51,642,000. Finally, Advocate Group LLC boosted its position in shares of Graphic Packaging by 14.5% in the fourth quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company’s stock valued at $6,149,000 after acquiring an additional 28,703 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GPK. Citigroup restated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Truist Financial reduced their price objective on Graphic Packaging from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, March 24th. Finally, Robert W. Baird lowered their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging currently has a consensus rating of “Hold” and a consensus target price of $31.37.

Graphic Packaging Stock Down 0.7 %

NYSE:GPK opened at $24.86 on Wednesday. The company has a market cap of $7.50 billion, a PE ratio of 11.51, a PEG ratio of 2.10 and a beta of 0.80. The stock has a 50-day simple moving average of $26.04 and a 200 day simple moving average of $27.61. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. Graphic Packaging Holding has a 52-week low of $23.03 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, sell-side analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.77%. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 14th. Graphic Packaging’s payout ratio is 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.