CENTRAL TRUST Co Trims Holdings in Graphic Packaging Holding (NYSE:GPK)

CENTRAL TRUST Co cut its position in shares of Graphic Packaging Holding (NYSE:GPKFree Report) by 41.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,155 shares of the industrial products company’s stock after selling 2,200 shares during the quarter. CENTRAL TRUST Co’s holdings in Graphic Packaging were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GPK. FMR LLC grew its stake 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 worth $605,416,000 after acquiring an additional 2,294,688 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Graphic Packaging by 24.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock valued at $437,945,000 after purchasing an additional 2,927,344 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Graphic Packaging by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after buying an additional 787,266 shares during the period. Premier Fund Managers Ltd boosted its stake in Graphic Packaging by 9.6% in the 3rd quarter. Premier Fund Managers Ltd now owns 3,441,614 shares of the industrial products company’s stock worth $101,545,000 after buying an additional 302,680 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Graphic Packaging during the 4th quarter valued at about $51,642,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GPK. StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup reissued a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird reduced their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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 research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.70.

Get Our Latest Report on GPK

Graphic Packaging Price Performance

Shares of GPK stock opened at $26.43 on Thursday. The firm has a fifty day simple moving average of $27.93 and a 200-day simple moving average of $28.63. The company has a market capitalization of $7.93 billion, a PE ratio of 11.29 and a beta of 0.85. Graphic Packaging Holding has a twelve month low of $23.47 and a twelve month high of $30.70. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78.

Graphic Packaging (NYSE:GPKGet Free Report) last posted its quarterly earnings data 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). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts anticipate that Graphic Packaging Holding will post 2.53 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be issued 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 annualized dividend and a yield of 1.67%. Graphic Packaging’s payout ratio is currently 17.09%.

Insider Buying and Selling at Graphic Packaging

In related news, CAO Charles D. Lischer sold 12,000 shares of Graphic Packaging stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the sale, the chief accounting officer now owns 49,849 shares in the company, valued at approximately $1,478,022.85. The trade was a 19.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

About Graphic Packaging

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GPK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graphic Packaging Holding (NYSE:GPKFree Report).

Institutional Ownership by Quarter for Graphic Packaging (NYSE:GPK)

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