Janney Montgomery Scott LLC bought a new position in shares of Graphic Packaging Holding (NYSE:GPK – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 153,491 shares of the industrial products company’s stock, valued at approximately $4,169,000.
A number of other hedge funds also recently modified their holdings of the stock. FMR LLC grew its stake in Graphic Packaging by 12.6% during the third quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock worth $605,416,000 after buying an additional 2,294,688 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Graphic Packaging by 24.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock worth $437,945,000 after acquiring an additional 2,927,344 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Graphic Packaging by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after acquiring an additional 787,266 shares in the last quarter. Premier Fund Managers Ltd increased its stake 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 acquiring an additional 302,680 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Graphic Packaging during the fourth quarter valued at approximately $51,642,000. Institutional investors own 99.67% of the company’s stock.
Insider Buying and Selling
In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total transaction of $750,841.00. Following the completion of the transaction, the executive vice president now owns 81,026 shares in the company, valued at approximately $2,348,943.74. This trade represents a 24.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Charles D. Lischer sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.65, for a total transaction of $355,800.00. Following the completion of the sale, the chief accounting officer now directly owns 49,849 shares in the company, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Graphic Packaging Stock Performance
Graphic Packaging (NYSE:GPK – Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that Graphic Packaging Holding will post 2.53 earnings per share for the current year.
Graphic Packaging Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 5th. Investors of record on Sunday, December 15th were issued a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. Graphic Packaging’s payout ratio is 17.09%.
Wall Street Analysts Forecast Growth
GPK has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citigroup reissued a “neutral” rating and issued a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Truist Financial lifted their price target on shares of Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Graphic Packaging presently has a consensus rating of “Hold” and a consensus target price of $32.37.
Read Our Latest Research Report on GPK
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.
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