Graphic Packaging Holding (NYSE:GPK) Shares Sold by Waycross Investment Management Co

Waycross Investment Management Co trimmed its stake in Graphic Packaging Holding (NYSE:GPK) by 9.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 43,796 shares of the industrial products company’s stock after selling 4,814 shares during the quarter. Graphic Packaging makes up about 1.2% of Waycross Investment Management Co’s investment portfolio, making the stock its 25th largest holding. Waycross Investment Management Co’s holdings in Graphic Packaging were worth $1,296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Graphic Packaging in the 1st quarter worth approximately $26,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Graphic Packaging during the fourth quarter valued at $27,000. LRI Investments LLC bought a new stake in shares of Graphic Packaging during the first quarter valued at about $38,000. GAMMA Investing LLC lifted its holdings in Graphic Packaging by 46.3% in the second quarter. GAMMA Investing LLC now owns 2,744 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 868 shares during the period. Finally, Atlas Capital Advisors LLC bought a new position in Graphic Packaging in the 2nd quarter valued at about $88,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Trading Up 0.6 %

NYSE GPK traded up $0.17 on Friday, hitting $28.79. 1,511,421 shares of the company were exchanged, compared to its average volume of 2,524,962. 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 Holding has a twelve month low of $20.07 and a twelve month high of $30.66. The firm has a market capitalization of $8.85 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 5.13 and a beta of 0.83. The company’s 50 day moving average price is $29.10 and its 200-day moving average price is $28.08.

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, beating analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. Analysts predict that Graphic Packaging Holding will post 2.66 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be given a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. Graphic Packaging’s dividend payout ratio (DPR) is presently 18.10%.

Insider Activity

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 stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the sale, the chief executive officer now directly owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Graphic Packaging 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 value of $2,422,790.70. Following the transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction that occurred 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 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. The trade was 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 corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on GPK shares. Wells Fargo & Company upped 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. Citigroup decreased their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Robert W. Baird upped their price objective on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus started coverage on Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Graphic Packaging in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.