Fifth Third Bancorp Sells 462 Shares of Graphic Packaging Holding (NYSE:GPK)

Fifth Third Bancorp cut its holdings in Graphic Packaging Holding (NYSE:GPK) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,706 shares of the industrial products company’s stock after selling 462 shares during the period. Fifth Third Bancorp’s holdings in Graphic Packaging were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPK. UMB Bank n.a. boosted its stake in Graphic Packaging by 546.6% during the third quarter. UMB Bank n.a. now owns 944 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 798 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Graphic Packaging during the 3rd quarter worth about $30,000. Avior Wealth Management LLC grew its stake in shares of Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after buying an additional 1,242 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Graphic Packaging in the 3rd quarter valued at about $73,000. Finally, GAMMA Investing LLC increased its position in Graphic Packaging by 57.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,308 shares of the industrial products company’s stock valued at $127,000 after buying an additional 1,564 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Michael James Farrell sold 25,900 shares of the firm’s 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 completion of the sale, the executive vice president now owns 81,026 shares in the company, valued at $2,348,943.74. This trade represents a 24.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Charles D. Lischer sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the transaction, the chief accounting officer now owns 49,849 shares in the company, valued at approximately $1,478,022.85. The trade was a 19.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Graphic Packaging Stock Performance

NYSE GPK opened at $27.39 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.73 and a quick ratio of 0.72. The company has a fifty day moving average price of $28.11 and a 200-day moving average price of $28.66. Graphic Packaging Holding has a 1 year low of $23.47 and a 1 year high of $30.70. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 11.71 and a beta of 0.85.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th were paid a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 annualized dividend and a yield of 1.46%. Graphic Packaging’s dividend payout ratio (DPR) is 17.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GPK shares. Truist Financial raised their price objective on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Citigroup reissued a “neutral” rating and issued a $30.00 price target (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company upgraded shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada decreased their target price on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.37.

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.