Truist Financial Corp Raises Stake in Graphic Packaging Holding (NYSE:GPK)

Truist Financial Corp raised its stake in Graphic Packaging Holding (NYSE:GPK) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,302 shares of the industrial products company’s stock after buying an additional 14,030 shares during the quarter. Truist Financial Corp’s holdings in Graphic Packaging were worth $6,554,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GPK. Howard Capital Management Group LLC grew its holdings in shares of Graphic Packaging by 0.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company’s stock worth $29,826,000 after purchasing an additional 2,969 shares during the period. Raymond James & Associates grew its holdings in shares of Graphic Packaging by 23.9% during the 3rd quarter. Raymond James & Associates now owns 707,969 shares of the industrial products company’s stock worth $20,949,000 after purchasing an additional 136,342 shares during the period. Private Advisor Group LLC grew its holdings in shares of Graphic Packaging by 26.1% during the 3rd quarter. Private Advisor Group LLC now owns 27,575 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 5,699 shares during the period. Shayne & Jacobs LLC purchased a new position in shares of Graphic Packaging during the 3rd quarter worth $216,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Graphic Packaging by 1.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 676,230 shares of the industrial products company’s stock worth $19,634,000 after purchasing an additional 6,423 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Graphic Packaging Price Performance

GPK stock opened at $27.10 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The firm has a market capitalization of $8.14 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.10 and a beta of 0.84. The business’s 50-day moving average is $27.22 and its two-hundred day moving average is $28.50. Graphic Packaging Holding has a 1 year low of $25.13 and a 1 year high of $30.70.

Graphic Packaging (NYSE:GPK) last posted its quarterly 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). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. Graphic Packaging’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Analysts anticipate 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. Shareholders of record on Saturday, March 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio (DPR) is currently 18.52%.

Insider Buying and Selling at Graphic Packaging

In other news, CAO Charles D. Lischer sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the sale, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This trade represents a 19.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GPK shares. Truist Financial increased their price target on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Citigroup reissued a “neutral” rating and set a $30.00 target price (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird decreased their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.70.

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.