Caprock Group LLC Reduces Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Caprock Group LLC reduced its stake in Graphic Packaging Holding (NYSE:GPK) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,865 shares of the industrial products company’s stock after selling 759 shares during the period. Caprock Group LLC’s holdings in Graphic Packaging were worth $323,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GPK. Allspring Global Investments Holdings LLC grew its position in shares of Graphic Packaging by 24.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock worth $437,945,000 after acquiring an additional 2,927,344 shares during the last quarter. American Century Companies Inc. grew its position in shares of Graphic Packaging by 41.9% during the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock worth $317,549,000 after acquiring an additional 3,576,877 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Graphic Packaging by 7.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after acquiring an additional 706,486 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Graphic Packaging by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock worth $158,693,000 after acquiring an additional 362,509 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of Graphic Packaging by 9.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 3,093,537 shares of the industrial products company’s stock worth $81,082,000 after acquiring an additional 274,449 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Graphic Packaging Stock Performance

NYSE:GPK opened at $29.28 on Friday. The firm’s fifty day simple moving average is $29.15 and its 200-day simple moving average is $28.36. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. The stock has a market cap of $8.79 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 11.20 and a beta of 0.83. Graphic Packaging Holding has a fifty-two week low of $22.12 and a fifty-two week high of $30.70.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. Analysts expect that Graphic Packaging Holding will post 2.52 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.37%. Graphic Packaging’s payout ratio is 17.09%.

Insider Buying and Selling at Graphic Packaging

In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total value of $750,841.00. Following the sale, the executive vice president now owns 81,026 shares of the company’s stock, valued at $2,348,943.74. This represents a 24.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GPK shares. Wells Fargo & Company raised their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada decreased their price target on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Truist Financial downgraded Graphic Packaging from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $30.00 in a report on Wednesday, October 30th. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Graphic Packaging currently has an average rating of “Hold” and a consensus target price of $31.53.

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.