Wells Fargo & Company MN Purchases 608 Shares of Graphic Packaging Holding (NYSE:GPK)

Wells Fargo & Company MN raised its position in shares of Graphic Packaging Holding (NYSE:GPK) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 194,467 shares of the industrial products company’s stock after purchasing an additional 608 shares during the period. Wells Fargo & Company MN owned about 0.06% of Graphic Packaging worth $5,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GPK. Picton Mahoney Asset Management increased its stake in shares of Graphic Packaging by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after buying an additional 394 shares during the period. 1620 Investment Advisors Inc. increased its position 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 valued at $303,000 after purchasing an additional 413 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Graphic Packaging by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 477 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Graphic Packaging by 2.0% in 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 during the period. Finally, Keynote Financial Services LLC boosted its stake in shares of Graphic Packaging by 6.9% during the fourth quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 492 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Graphic Packaging Trading Up 0.2 %

Graphic Packaging stock opened at $24.50 on Monday. Graphic Packaging Holding has a one year low of $23.03 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. The stock has a market cap of $7.39 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 2.10 and a beta of 0.80. The stock has a 50-day moving average of $25.93 and a two-hundred day moving average of $27.50.

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

Graphic Packaging Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, March 14th. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s payout ratio is presently 20.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial lowered their target price on Graphic Packaging from $31.00 to $30.00 and set a “hold” rating for the company in a report on Monday, March 24th. Citigroup reaffirmed a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird cut their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.37.

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.