LPL Financial LLC Decreases Stake in Graphic Packaging Holding Company $GPK

LPL Financial LLC decreased its position in Graphic Packaging Holding Company (NYSE:GPK) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,424 shares of the industrial products company’s stock after selling 11,802 shares during the period. LPL Financial LLC’s holdings in Graphic Packaging were worth $2,893,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inspire Advisors LLC increased its stake in shares of Graphic Packaging by 134.2% during the 1st quarter. Inspire Advisors LLC now owns 18,773 shares of the industrial products company’s stock worth $487,000 after purchasing an additional 10,758 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Graphic Packaging by 7.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,850 shares of the industrial products company’s stock worth $2,177,000 after buying an additional 5,941 shares during the period. TD Asset Management Inc bought a new position in Graphic Packaging in the 1st quarter worth approximately $14,245,000. Cetera Investment Advisers boosted its holdings in Graphic Packaging by 3.5% in the 1st quarter. Cetera Investment Advisers now owns 96,932 shares of the industrial products company’s stock worth $2,516,000 after buying an additional 3,275 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Graphic Packaging by 2.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 63,200 shares of the industrial products company’s stock worth $1,646,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Insider Activity

In other Graphic Packaging news, Director Philip R. Martens sold 56,737 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $21.84, for a total value of $1,239,136.08. Following the transaction, the director owned 33,826 shares in the company, valued at approximately $738,759.84. The trade was a 62.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group began coverage on shares of Graphic Packaging in a report on Wednesday, June 4th. They issued a “neutral” rating and a $24.00 price objective for the company. BNP Paribas Exane downgraded shares of Graphic Packaging from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 25th. Wells Fargo & Company raised their price target on shares of Graphic Packaging from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Truist Financial cut their price target on shares of Graphic Packaging from $24.00 to $23.00 and set a “hold” rating for the company in a report on Friday, July 11th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Graphic Packaging presently has an average rating of “Hold” and an average price target of $26.38.

Graphic Packaging Price Performance

Shares of NYSE:GPK opened at $22.50 on Monday. The stock has a market cap of $6.67 billion, a PE ratio of 12.71, a PEG ratio of 7.65 and a beta of 0.73. The company’s fifty day moving average is $22.13 and its 200 day moving average is $23.96. Graphic Packaging Holding Company has a 52 week low of $20.86 and a 52 week high of $30.70. The company has a quick ratio of 0.56, a current ratio of 1.43 and a debt-to-equity ratio of 1.68.

Graphic Packaging (NYSE:GPK) last issued 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. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. Research analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging declared that its board has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 23.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Graphic Packaging Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.0%. Graphic Packaging’s payout ratio is presently 24.86%.

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.