Graphic Packaging Holding (NYSE:GPK) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in Graphic Packaging Holding (NYSE:GPK) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,555 shares of the industrial products company’s stock after acquiring an additional 2,224 shares during the quarter. QRG Capital Management Inc.’s holdings in Graphic Packaging were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GPK. Synergy Asset Management LLC raised its position in shares of Graphic Packaging by 108.6% in the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company’s stock worth $1,810,000 after acquiring an additional 33,493 shares during the period. Howard Capital Management Group LLC increased its stake in shares of Graphic Packaging by 1.3% in the 4th quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company’s stock valued at $27,734,000 after purchasing an additional 13,175 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after purchasing an additional 787,266 shares during the period. Hennessy Advisors Inc. purchased a new position in Graphic Packaging during the fourth quarter worth approximately $51,642,000. Finally, Advocate Group LLC grew its holdings in Graphic Packaging by 14.5% in the fourth quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company’s stock valued at $6,149,000 after purchasing an additional 28,703 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPK has been the subject of several research analyst reports. Truist Financial upped their target price on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Robert W. Baird reduced 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 report on Wednesday, February 5th. Wells Fargo & Company upgraded shares of 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. Finally, Citigroup restated a “neutral” rating and set a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.70.

Graphic Packaging Trading Down 2.1 %

Shares of GPK opened at $26.13 on Tuesday. The firm’s fifty day moving average is $27.11 and its two-hundred day moving average is $28.46. The stock has a market cap of $7.84 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. 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 Holding has a 52-week low of $25.13 and a 52-week high of $30.70.

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

Graphic Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, March 14th. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio (DPR) is currently 20.37%.

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.