Envestnet Asset Management Inc. Has $20.52 Million Holdings in Graphic Packaging Holding Company (NYSE:GPK)

Envestnet Asset Management Inc. boosted its position in Graphic Packaging Holding Company (NYSE:GPK) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 790,496 shares of the industrial products company’s stock after buying an additional 140,890 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Graphic Packaging worth $20,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake in Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock valued at $39,000 after buying an additional 689 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Graphic Packaging in the 1st quarter valued at $42,000. Mizuho Bank Ltd. bought a new stake in Graphic Packaging in the 4th quarter valued at $43,000. UMB Bank n.a. boosted its holdings in Graphic Packaging by 42.3% in the 1st quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 632 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in Graphic Packaging in the 4th quarter valued at $79,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BNP Paribas Exane downgraded shares of Graphic Packaging from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 25th. Bank of America reduced their price objective on shares of Graphic Packaging from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Truist Financial cut their price target on shares of Graphic Packaging from $24.00 to $23.00 and set a “hold” rating for the company in a report on Friday, July 11th. Finally, Royal Bank Of Canada cut their price target on shares of Graphic Packaging from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Graphic Packaging has an average rating of “Hold” and an average target price of $26.88.

Graphic Packaging Trading Up 0.2%

Shares of GPK opened at $22.01 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.88 and a debt-to-equity ratio of 1.80. Graphic Packaging Holding Company has a 12-month low of $20.86 and a 12-month high of $30.70. The firm has a market capitalization of $6.64 billion, a PE ratio of 10.73 and a beta of 0.71. The stock’s fifty day simple moving average is $22.15 and its 200-day simple moving average is $24.72.

Graphic Packaging (NYSE:GPK) last issued 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 7.15% and a return on equity of 23.68%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company earned $0.66 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts predict that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, July 5th. Stockholders of record on Sunday, June 15th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, June 13th. Graphic Packaging’s dividend payout ratio is 21.46%.

Graphic Packaging declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 23.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.