Bank of New York Mellon Corp Trims Stock Position in Graphic Packaging Holding (NYSE:GPK)

Bank of New York Mellon Corp cut its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,888,212 shares of the industrial products company’s stock after selling 124,397 shares during the period. Bank of New York Mellon Corp owned approximately 0.96% of Graphic Packaging worth $78,444,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Concurrent Investment Advisors LLC raised its stake in shares of Graphic Packaging by 14.1% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,133 shares of the industrial products company’s stock worth $302,000 after buying an additional 1,376 shares in the last quarter. WealthBridge Capital Management LLC raised its stake in shares of Graphic Packaging by 33.8% during the 4th quarter. WealthBridge Capital Management LLC now owns 10,048 shares of the industrial products company’s stock worth $273,000 after buying an additional 2,541 shares in the last quarter. Alberta Investment Management Corp raised its stake in shares of Graphic Packaging by 7.0% during the 4th quarter. Alberta Investment Management Corp now owns 113,423 shares of the industrial products company’s stock worth $3,081,000 after buying an additional 7,453 shares in the last quarter. Truist Financial Corp raised its stake in shares of Graphic Packaging by 6.2% during the 4th quarter. Truist Financial Corp now owns 241,302 shares of the industrial products company’s stock worth $6,554,000 after buying an additional 14,030 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Graphic Packaging by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock worth $251,000 after buying an additional 477 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPK has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Citigroup restated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, Truist Financial lifted their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.70.

Graphic Packaging Stock Down 2.1 %

Shares of NYSE GPK opened at $26.13 on Tuesday. Graphic Packaging Holding has a 1 year low of $25.13 and a 1 year high of $30.70. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. The stock’s 50-day simple moving average is $27.11 and its 200-day simple moving average is $28.46.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. 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 previous year, the firm posted $0.75 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders 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 dividend yield of 1.68%. 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 presently 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.