Graphic Packaging Holding Company (NYSE:GPK) Position Cut by Assetmark Inc.

Assetmark Inc. trimmed its holdings in Graphic Packaging Holding Company (NYSE:GPK) by 91.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,946 shares of the industrial products company’s stock after selling 83,835 shares during the quarter. Assetmark Inc.’s holdings in Graphic Packaging were worth $206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPK. Concurrent Investment Advisors LLC lifted its position in shares of Graphic Packaging by 3.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,535 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 402 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in shares of Graphic Packaging by 4.1% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 11,770 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 465 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of Graphic Packaging by 6.4% during the 1st quarter. Merit Financial Group LLC now owns 8,480 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 512 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Graphic Packaging by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 194,467 shares of the industrial products company’s stock valued at $5,282,000 after acquiring an additional 608 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Graphic Packaging by 1.8% during the 1st quarter. Xponance Inc. now owns 36,320 shares of the industrial products company’s stock valued at $943,000 after acquiring an additional 630 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on GPK shares. Royal Bank Of Canada reduced their target price on Graphic Packaging from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, June 18th. Raymond James Financial restated an “outperform” rating and issued a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Bank of America reduced their target price on Graphic Packaging from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. UBS Group started coverage on Graphic Packaging in a report on Wednesday, June 4th. They issued a “neutral” rating and a $24.00 target price for the company. Finally, Truist Financial reduced their target price on Graphic Packaging from $24.00 to $23.00 and set a “hold” rating for the company in a report on Friday, July 11th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.38.

Graphic Packaging Price Performance

GPK opened at $21.49 on Friday. The company has a fifty day moving average price of $22.09 and a two-hundred day moving average price of $24.36. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.73 and a current ratio of 1.43. Graphic Packaging Holding Company has a 52 week low of $20.86 and a 52 week high of $30.70. The firm has a market capitalization of $6.37 billion, a PE ratio of 12.14, a P/E/G ratio of 7.27 and a beta of 0.73.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. As a group, analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 5th. Stockholders of record on Monday, September 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. Graphic Packaging’s dividend payout ratio (DPR) is currently 24.86%.

Graphic Packaging declared that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 23.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Graphic Packaging 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.