State of Alaska Department of Revenue Reduces Stake in Graphic Packaging Holding (NYSE:GPK)

State of Alaska Department of Revenue lowered its position in Graphic Packaging Holding (NYSE:GPK) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,220 shares of the industrial products company’s stock after selling 645 shares during the period. State of Alaska Department of Revenue’s holdings in Graphic Packaging were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Synergy Asset Management LLC boosted its position in Graphic Packaging by 108.6% in the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company’s stock valued at $1,810,000 after buying an additional 33,493 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in Graphic Packaging by 1.3% in the fourth quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company’s stock valued at $27,734,000 after acquiring an additional 13,175 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 787,266 shares during the period. Raymond James & Associates lifted its holdings in Graphic Packaging by 23.9% in the third quarter. Raymond James & Associates now owns 707,969 shares of the industrial products company’s stock valued at $20,949,000 after acquiring an additional 136,342 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in Graphic Packaging in the fourth quarter valued at approximately $51,642,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Up 0.7 %

Shares of NYSE:GPK opened at $26.61 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The business has a fifty day moving average of $27.58 and a two-hundred day moving average of $28.59. The stock has a market cap of $7.99 billion, a P/E ratio of 12.32, a PEG ratio of 2.07 and a beta of 0.84. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share 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 analysts’ expectations of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, research analysts expect that Graphic Packaging Holding will post 2.51 earnings per share for the current year.

Graphic Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.65%. Graphic Packaging’s dividend payout ratio is currently 18.52%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $24.00 to $27.00 in a report on Monday, January 6th. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Truist Financial upped 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. Robert W. Baird reduced 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. Finally, Royal Bank of Canada reduced their price objective on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.70.

Insider Transactions at Graphic Packaging

In related news, CAO Charles D. Lischer sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 49,849 shares in the company, valued at $1,478,022.85. This trade represents a 19.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.20% of the company’s stock.

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.