First Pacific Advisors LP cut its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 39.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 535,475 shares of the industrial products company’s stock after selling 348,704 shares during the quarter. First Pacific Advisors LP’s holdings in Graphic Packaging were worth $6,763,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Private Capital Group LLC raised its holdings in Graphic Packaging by 210.4% during the first quarter. Private Capital Group LLC now owns 2,533 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,717 shares during the period. Resources Investment Advisors Inc. purchased a new position in shares of Graphic Packaging during the fourth quarter valued at about $28,000. Pearl River Capital LLC purchased a new position in Graphic Packaging in the fourth quarter worth about $54,000. First Hawaiian Bank grew its position in Graphic Packaging by 319.5% in the first quarter. First Hawaiian Bank now owns 5,403 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Berman Capital Advisors LLC purchased a new position in Graphic Packaging in the fourth quarter worth about $74,000.
Several research analysts recently commented on GPK shares. KeyCorp reiterated a “hold” rating on shares of Graphic Packaging in a research report on Wednesday, April 24th. ValuEngine lowered Graphic Packaging from a “hold” rating to a “sell” rating in a research report on Monday, February 25th. Zacks Investment Research lowered Graphic Packaging from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 19th. TheStreet upgraded Graphic Packaging from a “c+” rating to a “b-” rating in a research report on Monday, April 22nd. Finally, UBS Group lifted their price target on Graphic Packaging from $12.50 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.79.
Shares of NYSE:GPK opened at $13.91 on Monday. Graphic Packaging Holding has a 1 year low of $10.04 and a 1 year high of $15.22. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The company has a quick ratio of 0.75, a current ratio of 1.80 and a debt-to-equity ratio of 1.56.
Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Graphic Packaging had a return on equity of 12.05% and a net margin of 4.12%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that Graphic Packaging Holding will post 0.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.30 annualized dividend and a dividend yield of 2.16%. Graphic Packaging’s dividend payout ratio (DPR) is presently 37.04%.
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Graphic Packaging Company Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
Further Reading: SEC Filing
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