Farther Finance Advisors LLC Decreases Stock Position in Graphic Packaging Holding (NYSE:GPK)

Farther Finance Advisors LLC reduced its position in Graphic Packaging Holding (NYSE:GPK) by 13.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,124 shares of the industrial products company’s stock after selling 2,309 shares during the quarter. Farther Finance Advisors LLC’s holdings in Graphic Packaging were worth $397,000 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. Wells Fargo & Company MN boosted its stake in Graphic Packaging by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 194,467 shares of the industrial products company’s stock valued at $5,282,000 after buying an additional 608 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Graphic Packaging by 9.0% during the 4th quarter. Victory Capital Management Inc. now owns 836,357 shares of the industrial products company’s stock worth $22,715,000 after acquiring an additional 68,956 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Graphic Packaging by 32.0% in the 4th quarter. Russell Investments Group Ltd. now owns 70,831 shares of the industrial products company’s stock worth $1,924,000 after purchasing an additional 17,183 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Graphic Packaging in the 4th quarter worth approximately $229,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 689 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Stock Performance

Shares of GPK stock opened at $21.50 on Tuesday. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 2.10 and a beta of 0.74. The company’s 50 day moving average is $23.25 and its 200 day moving average is $25.73. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. Graphic Packaging Holding has a 52-week low of $20.86 and a 52-week high of $30.70.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business earned $0.66 earnings per share. Graphic Packaging’s revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 5th. Stockholders of record on Sunday, June 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 2.05%. Graphic Packaging’s payout ratio is currently 21.46%.

Wall Street Analyst Weigh In

GPK has been the topic of several research analyst reports. Raymond James reissued an “outperform” rating and set a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. UBS Group began coverage on Graphic Packaging in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $24.00 price target for the company. Royal Bank of Canada dropped their price objective on shares of Graphic Packaging from $32.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Truist Financial lowered their price target on shares of Graphic Packaging from $30.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.53.

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.