PNC Financial Services Group Inc. Has $832,000 Stake in Graphic Packaging Holding (NYSE:GPK)

PNC Financial Services Group Inc. grew its position in Graphic Packaging Holding (NYSE:GPK) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,629 shares of the industrial products company’s stock after purchasing an additional 2,441 shares during the period. PNC Financial Services Group Inc.’s holdings in Graphic Packaging were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. FMR LLC boosted its position in Graphic Packaging by 12.6% during the 3rd quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock worth $605,416,000 after acquiring an additional 2,294,688 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Graphic Packaging during the fourth quarter worth $51,642,000. Allspring Global Investments Holdings LLC grew 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 purchasing an additional 1,702,764 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Graphic Packaging in the 4th quarter valued at $34,131,000. Finally, Raymond James Financial Inc. bought a new stake in Graphic Packaging during the 4th quarter worth about $25,669,000. 99.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $24.00 to $27.00 in a report on Monday, January 6th. Truist Financial boosted their price target 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 cut their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, Citigroup restated a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Graphic Packaging presently has an average rating of “Hold” and a consensus target price of $31.70.

Graphic Packaging Stock Down 0.1 %

GPK stock opened at $26.21 on Tuesday. The business’s 50 day simple moving average is $26.99 and its 200 day simple moving average is $28.27. Graphic Packaging Holding has a 1-year low of $25.13 and a 1-year high of $30.70. The firm has a market capitalization of $7.87 billion, a PE ratio of 12.13, a PEG ratio of 2.10 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71.

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

Graphic Packaging Increases Dividend

The company 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 $0.11 dividend. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.68%. Graphic Packaging’s dividend payout ratio is presently 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.