Citigroup Inc. Has $2.64 Million Stake in Graphic Packaging Holding Company $GPK

Citigroup Inc. cut its holdings in Graphic Packaging Holding Company (NYSE:GPK) by 54.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,810 shares of the industrial products company’s stock after selling 164,148 shares during the quarter. Citigroup Inc.’s holdings in Graphic Packaging were worth $2,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. American Century Companies Inc. increased its position in Graphic Packaging by 19.1% in the 2nd quarter. American Century Companies Inc. now owns 22,022,347 shares of the industrial products company’s stock valued at $464,011,000 after acquiring an additional 3,533,846 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Graphic Packaging by 32.6% during the third quarter. JPMorgan Chase & Co. now owns 11,501,251 shares of the industrial products company’s stock worth $225,080,000 after purchasing an additional 2,828,094 shares in the last quarter. Norges Bank acquired a new position in shares of Graphic Packaging during the second quarter worth approximately $55,632,000. Allspring Global Investments Holdings LLC grew its stake in shares of Graphic Packaging by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,138,977 shares of the industrial products company’s stock valued at $374,550,000 after purchasing an additional 1,502,681 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Graphic Packaging by 11.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,570,040 shares of the industrial products company’s stock valued at $243,781,000 after purchasing an additional 1,218,848 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup cut their price target on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Graphic Packaging in a research report on Monday, December 29th. Truist Financial set a $14.00 price objective on Graphic Packaging in a report on Wednesday, February 4th. Wells Fargo & Company cut their target price on shares of Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 4th. Finally, Robert W. Baird set a $15.00 target price on shares of Graphic Packaging in a research note on Wednesday, February 4th. Eight investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $16.63.

Graphic Packaging Price Performance

GPK stock opened at $11.24 on Friday. The stock has a 50-day moving average price of $13.85 and a two-hundred day moving average price of $16.53. Graphic Packaging Holding Company has a 1 year low of $10.73 and a 1 year high of $28.19. The stock has a market cap of $3.32 billion, a PE ratio of 7.59 and a beta of 0.65. The company has a current ratio of 1.30, a quick ratio of 0.52 and a debt-to-equity ratio of 1.50.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $2.10 billion for the quarter. Graphic Packaging had a net margin of 5.15% and a return on equity of 16.58%. Equities analysts forecast that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Sunday, March 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, March 13th. Graphic Packaging’s dividend payout ratio is presently 29.73%.

Insider Buying and Selling

In other news, CEO Robbert Rietbroek acquired 44,278 shares of the stock in a transaction dated Wednesday, March 4th. The shares were bought at an average cost of $11.32 per share, for a total transaction of $501,226.96. Following the purchase, the chief executive officer directly owned 44,278 shares of the company’s stock, valued at approximately $501,226.96. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.41% of the company’s stock.

Graphic Packaging Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.