Kingsview Wealth Management LLC Grows Stock Position in Graphic Packaging Holding Company $GPK

Kingsview Wealth Management LLC increased its holdings in Graphic Packaging Holding Company (NYSE:GPK) by 13.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 448,918 shares of the industrial products company’s stock after purchasing an additional 54,285 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Graphic Packaging were worth $8,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of Graphic Packaging by 19.1% in the 2nd quarter. American Century Companies Inc. now owns 22,022,347 shares of the industrial products company’s stock valued at $464,011,000 after purchasing an additional 3,533,846 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Graphic Packaging by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,138,977 shares of the industrial products company’s stock valued at $374,550,000 after buying an additional 1,502,681 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Graphic Packaging by 11.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,570,040 shares of the industrial products company’s stock valued at $243,781,000 after buying an additional 1,218,848 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Graphic Packaging by 32.6% during the third quarter. JPMorgan Chase & Co. now owns 11,501,251 shares of the industrial products company’s stock worth $225,080,000 after buying an additional 2,828,094 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Graphic Packaging by 0.3% during the second quarter. Geode Capital Management LLC now owns 5,670,434 shares of the industrial products company’s stock worth $119,494,000 after buying an additional 17,827 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Performance

NYSE:GPK opened at $11.76 on Tuesday. Graphic Packaging Holding Company has a 52 week low of $11.63 and a 52 week high of $28.19. The company has a fifty day simple moving average of $14.17 and a two-hundred day simple moving average of $16.76. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 7.94 and a beta of 0.65.

Graphic Packaging (NYSE:GPK) last released its earnings results on Monday, March 2nd. The industrial products company reported $0.24 EPS for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The firm had revenue of $2.10 billion during the quarter. As a group, equities analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Sunday, March 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.7%. Graphic Packaging’s payout ratio is currently 29.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GPK. Robert W. Baird set a $15.00 price target on shares of Graphic Packaging in a research note on Wednesday, February 4th. Truist Financial set a $14.00 target price on Graphic Packaging in a research report on Wednesday, February 4th. Zacks Research cut Graphic Packaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. UBS Group dropped their price objective on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, December 29th. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $16.63.

Graphic Packaging Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.