Graphic Packaging Holding (NYSE:GPK) Position Trimmed by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in Graphic Packaging Holding (NYSE:GPK) by 14.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,039,825 shares of the industrial products company’s stock after selling 1,471,631 shares during the quarter. Wellington Management Group LLP’s holdings in Graphic Packaging were worth $245,522,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GPK. Picton Mahoney Asset Management lifted its holdings in Graphic Packaging by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 394 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Graphic Packaging during the 4th quarter worth approximately $32,000. Avior Wealth Management LLC lifted its holdings in shares of Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 689 shares during the period. Finally, UMB Bank n.a. grew its stake in Graphic Packaging by 58.2% during the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock worth $41,000 after buying an additional 549 shares during the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Citigroup restated a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, Truist Financial reduced their price objective on Graphic Packaging from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, March 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Graphic Packaging has a consensus rating of “Hold” and an average price target of $31.37.

Graphic Packaging Trading Up 1.0 %

Graphic Packaging stock opened at $26.23 on Wednesday. Graphic Packaging Holding has a 12-month low of $24.50 and a 12-month high of $30.70. The stock has a market capitalization of $7.87 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The firm has a 50 day simple moving average of $26.67 and a 200-day simple moving average of $27.99. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54.

Graphic Packaging (NYSE:GPK) last posted 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 firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the firm posted $0.75 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts expect 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. Investors of record on Saturday, March 15th will be issued a $0.11 dividend. 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 dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, March 14th. Graphic Packaging’s 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.