Letko Brosseau & Associates Inc. Raises Stake in Graphic Packaging Holding (NYSE:GPK)

Letko Brosseau & Associates Inc. raised its holdings in Graphic Packaging Holding (NYSE:GPK) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,136,735 shares of the industrial products company’s stock after purchasing an additional 13,625 shares during the quarter. Letko Brosseau & Associates Inc. owned about 0.38% of Graphic Packaging worth $29,794,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. acquired a new stake in Graphic Packaging during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in Graphic Packaging during the 1st quarter worth $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Graphic Packaging in the 4th quarter worth $27,000. LRI Investments LLC purchased a new stake in shares of Graphic Packaging in the first quarter valued at about $38,000. Finally, ICA Group Wealth Management LLC purchased a new position in Graphic Packaging during the fourth quarter worth about $50,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Graphic Packaging Price Performance

Shares of NYSE GPK traded up $0.19 on Friday, hitting $29.07. The company’s stock had a trading volume of 1,591,396 shares, compared to its average volume of 2,582,660. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The stock has a 50 day moving average of $28.06 and a 200-day moving average of $27.68. Graphic Packaging Holding has a 12-month low of $20.07 and a 12-month high of $30.66. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 5.16 and a beta of 0.84.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Graphic Packaging’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, research analysts predict that Graphic Packaging Holding will post 2.72 EPS for the current year.

Graphic Packaging Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s payout ratio is 18.10%.

Analysts Set New Price Targets

Several equities analysts have issued reports on GPK shares. Wells Fargo & Company boosted their target price on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus assumed coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup dropped their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Graphic Packaging currently has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Insider Buying and Selling at Graphic Packaging

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

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.