Graphic Packaging Holding (NYSE:GPK) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its stake in Graphic Packaging Holding (NYSE:GPK) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,099 shares of the industrial products company’s stock after selling 562 shares during the period. EverSource Wealth Advisors LLC owned approximately 0.10% of Graphic Packaging worth $8,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of Graphic Packaging by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock worth $317,549,000 after purchasing an additional 3,576,877 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Graphic Packaging by 24.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock worth $437,945,000 after acquiring an additional 2,927,344 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Graphic Packaging by 7.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after purchasing an additional 706,486 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Graphic Packaging by 33.2% in the 2nd quarter. Sei Investments Co. now owns 1,719,878 shares of the industrial products company’s stock valued at $45,078,000 after buying an additional 428,278 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Graphic Packaging by 171.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock worth $17,631,000 after buying an additional 381,112 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analyst Ratings Changes

GPK has been the topic of several recent analyst reports. Robert W. Baird boosted their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada dropped their price target on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company increased their price target on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Truist Financial cut shares of Graphic Packaging from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $30.00 in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.53.

Insider Transactions at Graphic Packaging

In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total transaction of $750,841.00. Following the transaction, the executive vice president now directly owns 81,026 shares in the company, valued at $2,348,943.74. This trade represents a 24.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Graphic Packaging Stock Performance

Graphic Packaging stock traded up $0.11 during midday trading on Wednesday, reaching $28.35. The stock had a trading volume of 43,714 shares, compared to its average volume of 2,542,024. The firm’s 50-day moving average price is $29.19 and its 200 day moving average price is $28.34. The firm has a market capitalization of $8.51 billion, a PE ratio of 12.07, a P/E/G ratio of 10.98 and a beta of 0.83. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. Graphic Packaging Holding has a 12 month low of $22.12 and a 12 month high of $30.70.

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

Graphic Packaging Announces Dividend

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

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.