Graphic Packaging Holding (NYSE:GPK) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lessened its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 23.1% in the 4th quarter, Holdings Channel reports. The firm owned 29,274 shares of the industrial products company’s stock after selling 8,790 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Graphic Packaging were worth $795,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management raised its position in shares of Graphic Packaging by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 394 shares during the last quarter. Crews Bank & Trust purchased a new position in Graphic Packaging in the 4th quarter valued at $32,000. Avior Wealth Management LLC lifted its holdings in Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,242 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 689 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Graphic Packaging by 58.2% in the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Trading Down 0.8%

Shares of GPK opened at $22.63 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. Graphic Packaging Holding has a 12-month low of $20.86 and a 12-month high of $30.70. The firm has a 50-day moving average price of $24.38 and a 200 day moving average price of $26.59. The firm has a market capitalization of $6.83 billion, a P/E ratio of 10.48, a P/E/G ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Graphic Packaging’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.94%. Graphic Packaging’s dividend payout ratio (DPR) is presently 21.46%.

Graphic Packaging declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 23.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

GPK has been the topic of a number of research reports. Raymond James restated an “outperform” rating and issued a $26.00 price objective (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Robert W. Baird lowered their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada lowered their target price on Graphic Packaging from $32.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Truist Financial lowered their target price on Graphic Packaging from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

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.