Graphic Packaging Holding Company (NYSE:GPK) Shares Sold by Connable Office Inc.

Connable Office Inc. decreased its holdings in Graphic Packaging Holding Company (NYSE:GPK) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,677 shares of the industrial products company’s stock after selling 589 shares during the quarter. Connable Office Inc.’s holdings in Graphic Packaging were worth $381,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in Graphic Packaging during the first quarter valued at approximately $42,000. UMB Bank n.a. raised its stake in Graphic Packaging by 42.3% during the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company’s stock valued at $55,000 after buying an additional 632 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Graphic Packaging during the fourth quarter valued at approximately $79,000. Signaturefd LLC raised its stake in Graphic Packaging by 554.5% during the first quarter. Signaturefd LLC now owns 3,639 shares of the industrial products company’s stock valued at $94,000 after buying an additional 3,083 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Graphic Packaging during the fourth quarter valued at approximately $161,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GPK shares. Royal Bank Of Canada lowered 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. Bank of America lowered 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. Truist Financial lowered 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. Wells Fargo & Company upped their target price on Graphic Packaging from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Six investment 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, Graphic Packaging presently has a consensus rating of “Hold” and a consensus price target of $26.38.

Graphic Packaging Stock Performance

Shares of GPK stock opened at $21.49 on Monday. Graphic Packaging Holding Company has a 12-month low of $20.86 and a 12-month high of $30.70. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 7.27 and a beta of 0.73. The business has a 50 day simple moving average of $22.09 and a 200 day simple moving average of $24.34. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.43 and a quick ratio of 0.56.

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

Graphic Packaging Announces Dividend

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

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

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.