Graphic Packaging Holding (NYSE:GPK) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC reduced its position in shares of Graphic Packaging Holding (NYSE:GPK) by 21.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,333 shares of the industrial products company’s stock after selling 10,059 shares during the period. Synergy Asset Management LLC’s holdings in Graphic Packaging were worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GPK. Principal Securities Inc. acquired a new position in Graphic Packaging during the fourth quarter worth $26,000. Rise Advisors LLC acquired a new stake in Graphic Packaging in the 1st quarter worth about $26,000. OLD Point Trust & Financial Services N A purchased a new stake in Graphic Packaging in the 4th quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in Graphic Packaging during the fourth quarter worth approximately $44,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Graphic Packaging in the 4th quarter worth $50,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on GPK. Wells Fargo & Company restated an “underweight” rating and set a $21.00 target price on shares of Graphic Packaging in a report on Monday, April 1st. Citigroup raised their target price on Graphic Packaging from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.43.

Graphic Packaging Stock Performance

NYSE:GPK traded down $0.31 during trading hours on Tuesday, reaching $25.59. 1,714,888 shares of the stock were exchanged, compared to its average volume of 2,715,992. The company has a quick ratio of 0.52, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $7.86 billion, a P/E ratio of 11.52, a P/E/G ratio of 9.66 and a beta of 0.85. Graphic Packaging Holding has a 52 week low of $20.07 and a 52 week high of $29.50. The firm has a 50 day simple moving average of $27.44 and a 200-day simple moving average of $26.70.

Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.38 billion. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share. As a group, sell-side analysts forecast that Graphic Packaging Holding will post 2.66 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, June 14th. Graphic Packaging’s payout ratio is 18.10%.

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.