California Public Employees Retirement System cut its position in Graphic Packaging Holding (NYSE:GPK) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729,700 shares of the industrial products company’s stock after selling 97,474 shares during the period. California Public Employees Retirement System’s holdings in Graphic Packaging were worth $9,216,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. lifted its position in Graphic Packaging by 11.9% in the 4th quarter. Macquarie Group Ltd. now owns 634,075 shares of the industrial products company’s stock valued at $6,747,000 after acquiring an additional 67,500 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Graphic Packaging by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,525,837 shares of the industrial products company’s stock valued at $105,438,000 after acquiring an additional 52,408 shares in the last quarter. Millennium Management LLC lifted its position in Graphic Packaging by 67.0% in the 4th quarter. Millennium Management LLC now owns 10,075,903 shares of the industrial products company’s stock valued at $107,208,000 after acquiring an additional 4,042,963 shares in the last quarter. Norges Bank bought a new position in Graphic Packaging in the 4th quarter valued at about $40,465,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Graphic Packaging by 30.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,764,485 shares of the industrial products company’s stock valued at $82,614,000 after acquiring an additional 1,818,515 shares in the last quarter.
In other news, Director Robert Hagemann bought 15,000 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were purchased at an average price of $12.25 per share, with a total value of $183,750.00. Following the transaction, the director now directly owns 65,329 shares in the company, valued at $800,280.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by company insiders.
Graphic Packaging stock opened at $12.79 on Friday. Graphic Packaging Holding has a 52 week low of $10.04 and a 52 week high of $15.22. The company has a current ratio of 1.80, a quick ratio of 0.75 and a debt-to-equity ratio of 1.56. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.18 and a beta of 1.37.
Graphic Packaging (NYSE:GPK) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Graphic Packaging had a net margin of 4.12% and a return on equity of 12.05%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Graphic Packaging Holding will post 0.85 earnings per share for the current fiscal year.
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 given a dividend of $0.075 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.30 annualized dividend and a dividend yield of 2.35%. Graphic Packaging’s dividend payout ratio is currently 37.04%.
Several brokerages recently weighed in on GPK. UBS Group raised their price target on shares of Graphic Packaging from $12.50 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. KeyCorp reaffirmed a “hold” rating on shares of Graphic Packaging in a research report on Wednesday, April 24th. ValuEngine raised shares of Graphic Packaging from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet raised shares of Graphic Packaging from a “c+” rating to a “b-” rating in a research report on Monday, April 22nd. Finally, Zacks Investment Research raised shares of Graphic Packaging from a “hold” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.79.
Graphic Packaging Company Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
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