Pictet Asset Management Holding SA Has $56.37 Million Stock Position in Graphic Packaging Holding (NYSE:GPK)

Pictet Asset Management Holding SA lessened its position in shares of Graphic Packaging Holding (NYSE:GPK) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,075,321 shares of the industrial products company’s stock after selling 89,913 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Graphic Packaging were worth $56,366,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Howard Capital Management Group LLC boosted its stake in shares of Graphic Packaging by 0.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company’s stock valued at $29,826,000 after purchasing an additional 2,969 shares during the last quarter. Cerity Partners LLC lifted its holdings in Graphic Packaging by 18.2% in the third quarter. Cerity Partners LLC now owns 21,935 shares of the industrial products company’s stock valued at $649,000 after buying an additional 3,376 shares during the period. Bank of Montreal Can boosted its stake in Graphic Packaging by 144.6% in the third quarter. Bank of Montreal Can now owns 104,957 shares of the industrial products company’s stock valued at $3,096,000 after acquiring an additional 62,041 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Graphic Packaging by 297.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 362,286 shares of the industrial products company’s stock worth $10,720,000 after acquiring an additional 271,134 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of Graphic Packaging during the 3rd quarter valued at $228,000. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Trading Up 0.2 %

NYSE GPK opened at $26.11 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The stock’s 50-day moving average is $26.76 and its 200-day moving average is $28.05. Graphic Packaging Holding has a one year low of $24.50 and a one year high of $30.70. The firm has a market cap of $7.84 billion, a P/E ratio of 12.09, a P/E/G ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last announced its 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). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. Sell-side analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The company also recently announced 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. This represents a $0.44 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio is 20.37%.

Analysts Set New Price Targets

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

Graphic Packaging 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.