CIBC Asset Management Inc Acquires 477 Shares of Graphic Packaging Holding (NYSE:GPK)

CIBC Asset Management Inc raised its holdings in Graphic Packaging Holding (NYSE:GPK) by 5.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,231 shares of the industrial products company’s stock after purchasing an additional 477 shares during the period. CIBC Asset Management Inc’s holdings in Graphic Packaging were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GPK. FMR LLC increased its holdings in Graphic Packaging by 12.6% in the 3rd 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 period. Hennessy Advisors Inc. bought a new stake in shares of Graphic Packaging in the 4th quarter worth about $51,642,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Graphic Packaging by 11.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company’s stock worth $441,990,000 after purchasing an additional 1,702,764 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Graphic Packaging in the 4th quarter worth about $34,131,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after purchasing an additional 787,266 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Up 1.2 %

Shares of NYSE:GPK opened at $27.20 on Wednesday. Graphic Packaging Holding has a 12 month low of $25.13 and a 12 month high of $30.70. The company’s 50-day moving average price is $27.15 and its two-hundred day moving average price is $28.49. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The firm has a market cap of $8.17 billion, a P/E ratio of 12.59, a P/E/G ratio of 2.10 and a beta of 0.84.

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

Graphic Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.62%. Graphic Packaging’s dividend payout ratio is presently 20.37%.

Wall Street Analyst Weigh In

GPK has been the topic of several analyst reports. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup reaffirmed 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. Robert W. Baird lowered their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. 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 stock from $24.00 to $27.00 in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Graphic Packaging currently has an average rating of “Hold” and a consensus target price of $31.70.

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.