California Public Employees Retirement System Grows Stock Position in Graphic Packaging Holding (NYSE:GPK)

California Public Employees Retirement System boosted its position in Graphic Packaging Holding (NYSE:GPKGet Rating) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 590,493 shares of the industrial products company’s stock after buying an additional 8,387 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Graphic Packaging worth $11,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in Graphic Packaging by 20.8% in the first quarter. Victory Capital Management Inc. now owns 2,007,547 shares of the industrial products company’s stock worth $40,693,000 after buying an additional 345,760 shares during the last quarter. Versor Investments LP increased its position in Graphic Packaging by 32.1% in the first quarter. Versor Investments LP now owns 38,647 shares of the industrial products company’s stock worth $774,000 after buying an additional 9,398 shares during the last quarter. abrdn plc grew its position in shares of Graphic Packaging by 10.3% in the first quarter. abrdn plc now owns 2,976,440 shares of the industrial products company’s stock valued at $60,720,000 after purchasing an additional 278,277 shares in the last quarter. Atria Investments LLC grew its position in shares of Graphic Packaging by 6.2% in the first quarter. Atria Investments LLC now owns 129,880 shares of the industrial products company’s stock valued at $2,603,000 after purchasing an additional 7,528 shares in the last quarter. Finally, Garner Asset Management Corp purchased a new position in shares of Graphic Packaging in the first quarter valued at $209,000. 94.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GPK. Deutsche Bank Aktiengesellschaft lifted their price target on Graphic Packaging from $25.00 to $27.00 in a research report on Wednesday, July 27th. Citigroup lifted their price target on Graphic Packaging to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. BNP Paribas upgraded Graphic Packaging from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research report on Tuesday, May 10th. Exane BNP Paribas upgraded Graphic Packaging from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a research report on Tuesday, May 10th. Finally, Raymond James lifted their price objective on Graphic Packaging from $24.50 to $25.50 and gave the company a “strong-buy” rating in a research note on Monday, April 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Graphic Packaging currently has an average rating of “Moderate Buy” and an average price target of $25.46.

Graphic Packaging Trading Up 0.6 %

Shares of GPK stock opened at $21.70 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.34 and a debt-to-equity ratio of 2.91. The business has a 50-day moving average price of $21.21 and a two-hundred day moving average price of $20.53. Graphic Packaging Holding has a 12-month low of $17.63 and a 12-month high of $22.99. The firm has a market cap of $6.68 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Graphic Packaging (NYSE:GPKGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.26 billion. Graphic Packaging had a return on equity of 28.19% and a net margin of 3.40%. The company’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities analysts anticipate that Graphic Packaging Holding will post 2.19 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.38%. Graphic Packaging’s dividend payout ratio is currently 32.26%.

Insider Transactions at Graphic Packaging

In other news, SVP Jean Francois Roche sold 46,898 shares of Graphic Packaging stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $22.50, for a total value of $1,055,205.00. Following the transaction, the senior vice president now owns 84 shares in the company, valued at $1,890. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.93% of the company’s stock.

Graphic Packaging Profile

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Graphic Packaging Holding Company, together with its subsidiaries, provides fiber-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 products, such as folding cartons, cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies; and barrier packaging products that protect against moisture, hot and cold temperature, grease, oil, oxygen, sunlight, insects, and other potential product-damaging factors.

Further Reading

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Institutional Ownership by Quarter for Graphic Packaging (NYSE:GPK)

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