EverSource Wealth Advisors LLC Trims Stock Holdings in Graphic Packaging Holding Company $GPK

EverSource Wealth Advisors LLC lessened its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 99.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,665 shares of the industrial products company’s stock after selling 314,163 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Graphic Packaging were worth $33,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Graphic Packaging by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,138,977 shares of the industrial products company’s stock valued at $374,550,000 after acquiring an additional 1,502,681 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Graphic Packaging by 48.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 234,885 shares of the industrial products company’s stock worth $4,949,000 after acquiring an additional 76,226 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Graphic Packaging in the 3rd quarter worth about $2,683,000. Barings LLC increased its position in shares of Graphic Packaging by 63.8% in the 2nd quarter. Barings LLC now owns 83,412 shares of the industrial products company’s stock worth $1,757,000 after purchasing an additional 32,503 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Graphic Packaging by 33.5% in the 3rd quarter. Boston Trust Walden Corp now owns 1,609,080 shares of the industrial products company’s stock valued at $31,490,000 after purchasing an additional 403,812 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Graphic Packaging Price Performance

Shares of NYSE:GPK opened at $11.24 on Friday. The company has a market cap of $3.32 billion, a PE ratio of 7.59 and a beta of 0.65. Graphic Packaging Holding Company has a fifty-two week low of $10.73 and a fifty-two week high of $28.19. The firm has a 50-day simple moving average of $13.85 and a 200 day simple moving average of $16.48. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Monday, March 2nd. The industrial products company reported $0.24 earnings per share (EPS) for the quarter. Graphic Packaging had a net margin of 5.15% and a return on equity of 16.58%. The firm had revenue of $2.10 billion for the quarter. On average, sell-side analysts anticipate that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Sunday, March 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 annualized dividend and a dividend yield of 3.9%. Graphic Packaging’s dividend payout ratio (DPR) is 29.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Graphic Packaging in a research report on Monday, December 29th. Robert W. Baird set a $15.00 price objective on Graphic Packaging in a research note on Wednesday, February 4th. UBS Group reduced their target price on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Citigroup decreased their target price on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Truist Financial set a $14.00 price target on Graphic Packaging in a report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Graphic Packaging has an average rating of “Reduce” and a consensus price target of $16.63.

Insider Activity

In related news, CEO Robbert Rietbroek acquired 44,278 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $11.32 per share, for a total transaction of $501,226.96. Following the transaction, the chief executive officer directly owned 44,278 shares of the company’s stock, valued at $501,226.96. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.41% of the company’s stock.

Graphic Packaging Company Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.