California Public Employees Retirement System Reduces Holdings in Graphic Packaging Holding (NYSE:GPK)

California Public Employees Retirement System lessened its holdings in Graphic Packaging Holding (NYSE:GPKGet Rating) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 542,068 shares of the industrial products company’s stock after selling 48,425 shares during the period. California Public Employees Retirement System owned 0.18% of Graphic Packaging worth $11,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. abrdn plc grew its holdings in Graphic Packaging by 10.3% during the 1st quarter. abrdn plc now owns 2,976,440 shares of the industrial products company’s stock valued at $60,720,000 after buying an additional 278,277 shares during the last quarter. Versor Investments LP boosted its stake in shares of Graphic Packaging by 32.1% during the 1st quarter. Versor Investments LP now owns 38,647 shares of the industrial products company’s stock worth $774,000 after purchasing an additional 9,398 shares during the last quarter. Victory Capital Management Inc. grew its stake in Graphic Packaging by 20.8% in the 1st quarter. Victory Capital Management Inc. now owns 2,007,547 shares of the industrial products company’s stock worth $40,693,000 after acquiring an additional 345,760 shares during the period. Russell Investments Group Ltd. grew its position in shares of Graphic Packaging by 51.7% in the first quarter. Russell Investments Group Ltd. now owns 702,628 shares of the industrial products company’s stock valued at $14,078,000 after purchasing an additional 239,540 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new position in Graphic Packaging in the first quarter valued at $568,000. 90.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada lifted their price target on Graphic Packaging from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 26th. Mizuho increased their price target on shares of Graphic Packaging from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, October 26th. Raymond James upped their price objective on Graphic Packaging from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Graphic Packaging from $27.00 to $28.00 in a report on Thursday, October 27th. Finally, Citigroup raised their price objective on Graphic Packaging to $28.00 in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.75.

Graphic Packaging Price Performance

GPK stock opened at $22.39 on Tuesday. The stock has a 50-day simple moving average of $21.55 and a 200-day simple moving average of $21.63. The firm has a market cap of $6.88 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 0.39 and a beta of 0.98. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.53 and a current ratio of 1.30. Graphic Packaging Holding has a 1 year low of $17.63 and a 1 year high of $24.07.

Graphic Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.08. Graphic Packaging’s dividend payout ratio (DPR) is presently 22.90%.

About Graphic Packaging

(Get Rating)

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.

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

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