AXQ Capital LP Takes Position in Graphic Packaging Holding (NYSE:GPK)

AXQ Capital LP bought a new position in shares of Graphic Packaging Holding (NYSE:GPK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,630 shares of the industrial products company’s stock, valued at approximately $452,000.

Several other large investors have also recently bought and sold shares of GPK. Synergy Asset Management LLC boosted its position in shares of Graphic Packaging by 108.6% during the 4th 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 in the last quarter. Howard Capital Management Group LLC boosted its holdings in Graphic Packaging by 1.3% in the fourth 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. increased its stake in Graphic Packaging by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock valued at $313,957,000 after purchasing an additional 787,266 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Graphic Packaging during the fourth quarter worth approximately $51,642,000. Finally, Advocate Group LLC lifted its position in shares of Graphic Packaging by 14.5% during the 4th quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company’s stock worth $6,149,000 after buying an additional 28,703 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup reissued a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Robert W. Baird decreased their target price 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. Finally, Truist Financial lifted their price target on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.70.

Graphic Packaging Stock Down 2.6 %

GPK opened at $25.31 on Friday. The business has a 50 day moving average price of $26.93 and a two-hundred day moving average price of $28.17. Graphic Packaging Holding has a 52 week low of $25.13 and a 52 week high of $30.70. The company has a market cap of $7.60 billion, a PE ratio of 11.72, a P/E/G ratio of 2.10 and a beta of 0.81. 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 results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share 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%. Graphic Packaging’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. As a group, research analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company 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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. Graphic Packaging’s 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.