Kingsview Wealth Management LLC Sells 6,409 Shares of Graphic Packaging Holding Company (NYSE:GPK)

Kingsview Wealth Management LLC decreased its holdings in Graphic Packaging Holding Company (NYSE:GPK) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 341,243 shares of the industrial products company’s stock after selling 6,409 shares during the quarter. Kingsview Wealth Management LLC owned 0.11% of Graphic Packaging worth $8,859,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Mizuho Bank Ltd. bought a new position in Graphic Packaging during the 4th quarter worth approximately $43,000. Wayfinding Financial LLC bought a new position in Graphic Packaging during the first quarter worth $42,000. UMB Bank n.a. boosted its position in Graphic Packaging by 42.3% during the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 632 shares during the period. Park Square Financial Group LLC bought a new position in Graphic Packaging during the fourth quarter worth $79,000. Finally, Signaturefd LLC boosted its position in Graphic Packaging by 554.5% during the first quarter. Signaturefd LLC now owns 3,639 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 3,083 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Stock Performance

NYSE GPK opened at $22.62 on Friday. Graphic Packaging Holding Company has a 1-year low of $20.86 and a 1-year high of $30.70. The company has a market cap of $6.82 billion, a PE ratio of 11.03 and a beta of 0.71. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.88 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $22.15 and its 200-day simple moving average is $24.69.

Graphic Packaging (NYSE:GPK) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. Graphic Packaging had a return on equity of 23.68% and a net margin of 7.15%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, equities research analysts anticipate that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging declared that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 23.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, July 5th. Investors of record on Sunday, June 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, June 13th. Graphic Packaging’s dividend payout ratio (DPR) is currently 21.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and set a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Bank of America cut their target price on shares of Graphic Packaging from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. Truist Financial lowered their price target on shares of Graphic Packaging from $24.00 to $23.00 and set a “hold” rating for the company in a report on Friday, July 11th. Royal Bank Of Canada lowered their price objective on shares of Graphic Packaging from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, June 18th. Finally, BNP Paribas Exane lowered shares of Graphic Packaging from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 25th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.88.

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.