Corebridge Financial Inc. Sells 15,278 Shares of Graphic Packaging Holding (NYSE:GPK)

Corebridge Financial Inc. reduced its position in shares of Graphic Packaging Holding (NYSE:GPK) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 339,595 shares of the industrial products company’s stock after selling 15,278 shares during the period. Corebridge Financial Inc.’s holdings in Graphic Packaging were worth $9,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of Graphic Packaging during the third quarter valued at $30,000. Picton Mahoney Asset Management increased its position in Graphic Packaging by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 394 shares during the period. Crews Bank & Trust bought a new stake in shares of Graphic Packaging in the 4th quarter valued at about $32,000. Avior Wealth Management LLC lifted its position 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 period. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Graphic Packaging by 92.7% during the fourth 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 in the last quarter. 99.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Graphic Packaging Trading Up 1.0 %

Shares of NYSE:GPK opened at $26.06 on Friday. The business’s 50-day moving average is $26.79 and its 200 day moving average is $28.08. 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 Holding has a 1 year low of $24.50 and a 1 year high of $30.70. The firm has a market capitalization of $7.82 billion, a P/E ratio of 12.06, a P/E/G ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last announced 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 analysts’ expectations of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. On average, research analysts predict that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently disclosed 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 positive change 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 1.69%. Graphic Packaging’s payout ratio is 20.37%.

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.