EverSource Wealth Advisors LLC Trims Stake in Graphic Packaging Holding (NYSE:GPK)

EverSource Wealth Advisors LLC cut its position in shares of Graphic Packaging Holding (NYSE:GPK) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 304,661 shares of the industrial products company’s stock after selling 9,364 shares during the period. EverSource Wealth Advisors LLC owned approximately 0.10% of Graphic Packaging worth $7,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. increased its stake in Graphic Packaging by 1.1% in the second quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 369 shares during the period. Graypoint LLC increased its stake in Graphic Packaging by 2.4% in the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock worth $458,000 after buying an additional 402 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Graphic Packaging by 0.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock valued at $1,422,000 after buying an additional 406 shares in the last quarter. Fiduciary Family Office LLC lifted its holdings in Graphic Packaging by 2.6% during the 2nd quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock valued at $441,000 after buying an additional 423 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in Graphic Packaging by 5.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 8,420 shares of the industrial products company’s stock valued at $208,000 after buying an additional 436 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Price Performance

Shares of GPK opened at $30.11 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The company’s fifty day moving average price is $28.81 and its 200-day moving average price is $27.96. Graphic Packaging Holding has a 1-year low of $20.07 and a 1-year high of $30.66. The firm has a market capitalization of $9.25 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 5.12 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. Graphic Packaging’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities research analysts predict that Graphic Packaging Holding will post 2.66 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.33%. Graphic Packaging’s dividend payout ratio (DPR) is presently 18.10%.

Insider Transactions at Graphic Packaging

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GPK shares. Citigroup lowered their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Graphic Packaging in a research note on Wednesday, September 4th. Stifel Nicolaus assumed coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective for the company. Truist Financial reissued a “buy” rating and set a $35.00 target price (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Finally, Robert W. Baird increased their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

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.