Graphic Packaging Holding (NYSE:GPK) Stake Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Graphic Packaging Holding (NYSE:GPK) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,462 shares of the industrial products company’s stock after selling 3,404 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Graphic Packaging worth $6,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GPK. Allspring Global Investments Holdings LLC boosted its stake in Graphic Packaging by 102.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,983,556 shares of the industrial products company’s stock valued at $291,320,000 after purchasing an additional 5,055,359 shares during the period. American Century Companies Inc. boosted 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 buying an additional 3,576,877 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Graphic Packaging by 7.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after buying an additional 706,486 shares in the last quarter. L1 Capital International Pty Ltd bought a new position in Graphic Packaging in the 4th quarter worth approximately $16,039,000. Finally, Greenlight Capital Inc. increased its position in Graphic Packaging by 32.0% in the 4th quarter. Greenlight Capital Inc. now owns 2,536,100 shares of the industrial products company’s stock valued at $62,515,000 after acquiring an additional 614,490 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Wall Street Analyst Weigh In

GPK has been the subject of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $35.00 price target (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus began coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price on the stock. Citigroup dropped their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Graphic Packaging in a report on Wednesday, September 4th. One investment 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.15.

Insider Buying and Selling

In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael P. Doss sold 86,374 shares of the business’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 sale, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. The trade was a 0.00 % 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. Also, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Graphic Packaging Stock Performance

Shares of GPK opened at $28.79 on Friday. Graphic Packaging Holding has a 12-month low of $20.07 and a 12-month high of $30.66. The stock has a market capitalization of $8.85 billion, a P/E ratio of 13.03, a P/E/G ratio of 5.13 and a beta of 0.83. The firm’s 50 day moving average is $29.10 and its 200-day moving average is $28.09. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

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

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Investors of record on Sunday, September 15th were given a $0.10 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.39%. Graphic Packaging’s dividend payout ratio (DPR) is 18.10%.

Graphic Packaging 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.