Keynote Financial Services LLC Buys New Shares in Graphic Packaging Holding (NYSE:GPK)

Keynote Financial Services LLC bought a new stake in shares of Graphic Packaging Holding (NYSE:GPK) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 7,115 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in Graphic Packaging by 0.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 314,025 shares of the industrial products company’s stock valued at $9,163,000 after buying an additional 2,613 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Graphic Packaging by 4.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 832,035 shares of the industrial products company’s stock valued at $23,907,000 after buying an additional 33,691 shares during the period. Cetera Advisors LLC increased its holdings in Graphic Packaging by 25.7% in the 1st quarter. Cetera Advisors LLC now owns 28,970 shares of the industrial products company’s stock valued at $845,000 after buying an additional 5,919 shares during the period. Cetera Investment Advisers increased its holdings in Graphic Packaging by 99.6% in the 1st quarter. Cetera Investment Advisers now owns 104,490 shares of the industrial products company’s stock valued at $3,049,000 after buying an additional 52,139 shares during the period. Finally, Atria Investments Inc increased its holdings in Graphic Packaging by 3.6% in the 1st quarter. Atria Investments Inc now owns 176,418 shares of the industrial products company’s stock valued at $5,148,000 after buying an additional 6,186 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Truist Financial reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of Graphic Packaging in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday. Royal Bank of Canada upped their target price on shares of Graphic Packaging from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Graphic Packaging Trading Down 2.1 %

Shares of NYSE:GPK traded down $0.63 during mid-day trading on Friday, reaching $28.92. The stock had a trading volume of 2,285,546 shares, compared to its average volume of 2,743,033. The firm has a market cap of $8.68 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 5.10 and a beta of 0.84. The firm has a 50 day simple moving average of $27.38 and a two-hundred day simple moving average of $27.07. The company has a current ratio of 1.45, a quick ratio of 0.52 and a debt-to-equity ratio of 1.75. Graphic Packaging Holding has a twelve month low of $20.07 and a twelve month high of $30.66.

Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business earned $0.66 EPS. Graphic Packaging’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, research analysts predict that Graphic Packaging Holding will post 2.72 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s dividend payout ratio is 18.10%.

About Graphic Packaging

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.