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

New York Life Investment Management LLC lowered its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in Graphic Packaging by 12.6% in the third quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock valued at $605,416,000 after buying an additional 2,294,688 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Graphic Packaging by 11.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company’s stock valued at $441,990,000 after buying an additional 1,702,764 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Graphic Packaging by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock valued at $313,957,000 after buying an additional 787,266 shares during the last quarter. Premier Fund Managers Ltd boosted its position in Graphic Packaging by 9.6% in the third quarter. Premier Fund Managers Ltd now owns 3,441,614 shares of the industrial products company’s stock valued at $101,545,000 after buying an additional 302,680 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Graphic Packaging in the fourth quarter valued at approximately $51,642,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analyst Ratings Changes

GPK has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Truist Financial upped their price objective on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. 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. Finally, Citigroup restated a “neutral” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging currently has a consensus rating of “Hold” and an average target price of $31.70.

Graphic Packaging Trading Down 2.1 %

Graphic Packaging stock opened at $26.13 on Tuesday. Graphic Packaging Holding has a 12 month low of $25.13 and a 12 month high of $30.70. The firm has a market cap of $7.84 billion, a PE ratio of 12.10, a P/E/G ratio of 2.10 and a beta of 0.84. 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 stock’s 50 day simple moving average is $27.11 and its two-hundred day simple moving average is $28.46.

Graphic Packaging (NYSE:GPK) last announced its earnings results 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). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the business earned $0.75 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

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

Graphic Packaging Company 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.