27,091 Shares in Graphic Packaging Holding (NYSE:GPK) Bought by Covalis Capital LLP

Covalis Capital LLP bought a new position in shares of Graphic Packaging Holding (NYSE:GPK) in the fourth quarter, Holdings Channel reports. The institutional investor bought 27,091 shares of the industrial products company’s stock, valued at approximately $736,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position 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 valued at $30,000 after purchasing an additional 394 shares during the period. Crews Bank & Trust acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at about $32,000. Avior Wealth Management LLC increased 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 valued at $35,000 after acquiring an additional 1,242 shares during the period. Steward Partners Investment Advisory LLC increased its position in Graphic Packaging by 92.7% in 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 acquiring an additional 689 shares during the period. Finally, UMB Bank n.a. increased its stake in Graphic Packaging by 58.2% in the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock valued at $41,000 after buying an additional 549 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Price Performance

Shares of GPK stock opened at $24.50 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. Graphic Packaging Holding has a 52-week low of $23.03 and a 52-week high of $30.70. The firm’s 50 day moving average price is $25.97 and its two-hundred day moving average price is $27.55. The stock has a market cap of $7.39 billion, a PE ratio of 11.34, a PEG ratio of 2.10 and a beta of 0.80.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results 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). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. As a group, analysts forecast that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th were paid a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.80%. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s payout ratio is currently 20.37%.

Analyst Ratings Changes

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

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.