EverSource Wealth Advisors LLC Reduces Position in Graphic Packaging Holding (NYSE:GPK)

EverSource Wealth Advisors LLC lessened its holdings in Graphic Packaging Holding (NYSE:GPK) by 0.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 304,099 shares of the industrial products company’s stock after selling 562 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Graphic Packaging were worth $8,998,000 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. 1832 Asset Management L.P. increased its position in shares of Graphic Packaging by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock valued at $860,000 after acquiring an additional 369 shares during the period. Graypoint LLC increased its position in shares of Graphic Packaging by 2.4% during the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock worth $458,000 after purchasing an additional 402 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Graphic Packaging by 0.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock worth $1,422,000 after acquiring an additional 406 shares during the period. Fiduciary Family Office LLC boosted its position in shares of Graphic Packaging by 2.6% during the 2nd quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 423 shares in the last quarter. Finally, KBC Group NV increased its position in Graphic Packaging by 1.8% during the third quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after buying an additional 465 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Up 0.4 %

Shares of Graphic Packaging stock traded up $0.11 on Wednesday, hitting $28.35. 43,714 shares of the company’s stock traded hands, compared to its average volume of 2,542,024. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. The firm’s 50-day moving average is $29.19 and its 200 day moving average is $28.34. The stock has a market cap of $8.51 billion, a P/E ratio of 12.07, a PEG ratio of 10.98 and a beta of 0.83. Graphic Packaging Holding has a 52-week low of $22.12 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. Graphic Packaging’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Equities analysts anticipate that Graphic Packaging Holding will post 2.52 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. Graphic Packaging’s payout ratio is currently 17.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GPK shares. Robert W. Baird boosted their price target on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lowered their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Truist Financial cut Graphic Packaging from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $32.00 to $30.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Graphic Packaging currently has an average rating of “Hold” and a consensus price target of $31.53.

Insider Activity

In other news, EVP Michael James Farrell sold 25,900 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the sale, the executive vice president now owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. The trade was a 24.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.