Raymond James Financial Inc. Invests $25.67 Million in Graphic Packaging Holding (NYSE:GPK)

Raymond James Financial Inc. acquired a new stake in shares of Graphic Packaging Holding (NYSE:GPK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 945,103 shares of the industrial products company’s stock, valued at approximately $25,669,000. Raymond James Financial Inc. owned 0.31% of Graphic Packaging at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management boosted its holdings in shares of Graphic Packaging by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 394 shares during the period. 1620 Investment Advisors Inc. boosted its stake in Graphic Packaging by 3.8% during the 4th quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 413 shares during the period. CIBC Asset Management Inc grew its position in Graphic Packaging by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 477 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Graphic Packaging by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 486 shares during the period. Finally, Keynote Financial Services LLC raised its holdings in shares of Graphic Packaging by 6.9% during the fourth quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company’s stock valued at $207,000 after buying an additional 492 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Performance

Graphic Packaging stock opened at $24.50 on Friday. The firm has a market capitalization of $7.39 billion, a P/E ratio of 11.34, a P/E/G ratio of 2.10 and a beta of 0.80. Graphic Packaging Holding has a 52-week low of $23.03 and a 52-week high of $30.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The stock has a fifty day moving average price of $25.97 and a two-hundred day moving average price of $27.55.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th were given a dividend of $0.11 per share. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, March 14th. Graphic Packaging’s payout ratio is presently 20.37%.

Analysts Set New Price Targets

Several research firms recently commented on GPK. Citigroup restated a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird dropped their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Truist Financial decreased their target price on Graphic Packaging from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, March 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.37.

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.