Graphic Packaging Holding (NYSE:GPK) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in Graphic Packaging Holding (NYSE:GPK) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,600,600 shares of the industrial products company’s stock after purchasing an additional 706,486 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Graphic Packaging were worth $251,632,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Graypoint LLC boosted its position in Graphic Packaging by 2.4% during the second quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock worth $458,000 after acquiring an additional 402 shares during the last quarter. Fiduciary Family Office LLC boosted its position in Graphic Packaging by 2.6% during the second quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 423 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in Graphic Packaging by 5.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 8,420 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 436 shares during the period. Commonwealth Equity Services LLC raised its stake in Graphic Packaging by 2.0% during the second quarter. Commonwealth Equity Services LLC now owns 26,832 shares of the industrial products company’s stock worth $703,000 after purchasing an additional 519 shares during the period. Finally, OLD National Bancorp IN raised its stake in Graphic Packaging by 5.6% during the second quarter. OLD National Bancorp IN now owns 13,587 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 716 shares during the period. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Graphic Packaging Stock Performance

Shares of GPK stock opened at $29.88 on Wednesday. Graphic Packaging Holding has a 52 week low of $20.07 and a 52 week high of $30.66. The company has a market cap of $9.18 billion, a PE ratio of 13.52, a P/E/G ratio of 5.12 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. The company’s fifty day simple moving average is $28.53 and its 200-day simple moving average is $27.85.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Graphic Packaging Holding will post 2.66 EPS for the current year.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s dividend payout ratio (DPR) is 18.10%.

Analysts Set New Price Targets

GPK has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $35.00 price target (up previously from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their price target on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.15.

About Graphic Packaging

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.