Envestnet Asset Management Inc. Grows Stake in Graphic Packaging Holding (NYSE:GPK)

Envestnet Asset Management Inc. raised its holdings in Graphic Packaging Holding (NYSE:GPK) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 761,881 shares of the industrial products company’s stock after buying an additional 12,873 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of Graphic Packaging worth $19,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its position in Graphic Packaging by 6.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 461,507 shares of the industrial products company’s stock valued at $12,096,000 after purchasing an additional 27,689 shares during the period. American Century Companies Inc. increased its position in shares of Graphic Packaging by 41.9% during the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock valued at $317,549,000 after buying an additional 3,576,877 shares during the period. Choreo LLC purchased a new position in shares of Graphic Packaging during the second quarter valued at about $592,000. Caprock Group LLC raised its stake in Graphic Packaging by 39.1% in the second quarter. Caprock Group LLC now owns 11,624 shares of the industrial products company’s stock worth $306,000 after buying an additional 3,270 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its holdings in Graphic Packaging by 1.2% in the second quarter. Letko Brosseau & Associates Inc. now owns 1,136,735 shares of the industrial products company’s stock worth $29,794,000 after buying an additional 13,625 shares during the period. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Trading Down 3.5 %

Shares of NYSE GPK opened at $29.06 on Tuesday. The company has a market cap of $8.93 billion, a PE ratio of 13.15, a P/E/G ratio of 5.12 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $27.99. Graphic Packaging Holding has a 52-week low of $20.07 and a 52-week high of $30.66.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.66 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts expect that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be paid 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 currently 18.10%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GPK shares. Robert W. Baird increased their target price on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Citigroup lowered their price objective on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Truist Financial reaffirmed a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Graphic Packaging from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Graphic Packaging has an average rating of “Moderate Buy” and an average price target of $31.15.

Insider Activity

In related news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.