NewEdge Wealth LLC Sells 165,498 Shares of Graphic Packaging Holding (NYSE:GPK)

NewEdge Wealth LLC trimmed its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 894,148 shares of the industrial products company’s stock after selling 165,498 shares during the quarter. NewEdge Wealth LLC’s holdings in Graphic Packaging were worth $24,285,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in Graphic Packaging during the third quarter worth about $30,000. Crews Bank & Trust bought a new stake in shares of Graphic Packaging during the 4th quarter worth approximately $32,000. Avior Wealth Management LLC increased its stake in Graphic Packaging by 2,484.0% in the fourth 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 last quarter. UMB Bank n.a. lifted its stake in Graphic Packaging by 58.2% during the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 549 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Graphic Packaging in the 3rd quarter valued at $73,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Stock Down 0.5 %

NYSE:GPK opened at $27.04 on Thursday. Graphic Packaging Holding has a one year low of $25.13 and a one year high of $30.70. 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 company has a market cap of $8.12 billion, a PE ratio of 12.52, a P/E/G ratio of 2.10 and a beta of 0.84. The firm’s 50 day simple moving average is $27.14 and its 200 day simple moving average is $28.48.

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 analysts’ consensus estimates of $0.63 by ($0.04). The business 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%. Graphic Packaging’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. On average, research analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be paid a $0.11 dividend. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.63%. Graphic Packaging’s dividend payout ratio is presently 20.37%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Truist Financial lifted their price target on shares of Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Robert W. Baird dropped their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Citigroup reaffirmed a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four research 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 currently has a consensus rating of “Hold” and an average target price of $31.70.

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.