Graphic Packaging Holding (NYSE:GPK) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its position in Graphic Packaging Holding (NYSE:GPK) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,484 shares of the industrial products company’s stock after selling 3,597 shares during the quarter. New York Life Investment Management LLC’s holdings in Graphic Packaging were worth $855,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its stake in Graphic Packaging by 14.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 11,133 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 1,376 shares during the last quarter. WealthBridge Capital Management LLC raised its stake in Graphic Packaging by 33.8% in the 4th quarter. WealthBridge Capital Management LLC now owns 10,048 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 2,541 shares during the last quarter. Alberta Investment Management Corp raised its stake in Graphic Packaging by 7.0% in the 4th quarter. Alberta Investment Management Corp now owns 113,423 shares of the industrial products company’s stock valued at $3,081,000 after purchasing an additional 7,453 shares during the last quarter. Truist Financial Corp raised its stake in Graphic Packaging by 6.2% in the 4th quarter. Truist Financial Corp now owns 241,302 shares of the industrial products company’s stock valued at $6,554,000 after purchasing an additional 14,030 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in 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 during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GPK shares. Robert W. Baird cut their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Citigroup reaffirmed a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, Truist Financial raised their target price on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Graphic Packaging currently has a consensus rating of “Hold” and an average price target of $31.70.

Graphic Packaging Stock Down 2.1 %

Shares of NYSE:GPK opened at $26.13 on Tuesday. The business has a 50-day moving average price of $27.11 and a 200 day moving average price of $28.46. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.10 and a beta of 0.84. Graphic Packaging Holding has a 12-month low of $25.13 and a 12-month high of $30.70.

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

Graphic Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. Graphic Packaging’s dividend payout ratio (DPR) is presently 20.37%.

About Graphic Packaging

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.