Oppenheimer Asset Management Inc. Sells 122,922 Shares of Graphic Packaging Holding (NYSE:GPK)

Oppenheimer Asset Management Inc. cut its holdings in Graphic Packaging Holding (NYSE:GPK) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,173 shares of the industrial products company’s stock after selling 122,922 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.09% of Graphic Packaging worth $7,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Worldquant Millennium Advisors LLC grew its position in shares of Graphic Packaging by 1.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company’s stock worth $1,126,000 after buying an additional 401 shares during the period. KBC Group NV boosted its position in shares of Graphic Packaging by 1.8% in the 3rd quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 465 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Graphic Packaging by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 477 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Graphic Packaging by 2.0% in the 4th quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 486 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of 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 worth $41,000 after purchasing an additional 549 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GPK. Citigroup reaffirmed a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird lowered their price target on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Truist Financial raised their price target on shares of Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.70.

Graphic Packaging Stock Up 1.4 %

Shares of Graphic Packaging stock opened at $26.64 on Friday. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. The company’s 50 day moving average is $27.12 and its 200 day moving average is $28.46. Graphic Packaging Holding has a twelve month low of $25.13 and a twelve month high of $30.70. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Research analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.65%. 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%.

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.