Citigroup Inc. Purchases 101,479 Shares of Graphic Packaging Holding (NYSE:GPK)

Citigroup Inc. boosted its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,651,176 shares of the industrial products company's stock after acquiring an additional 101,479 shares during the quarter. Citigroup Inc. owned 0.55% of Graphic Packaging worth $48,858,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC bought a new stake in shares of Graphic Packaging during the 1st quarter worth $211,000. LRI Investments LLC acquired a new stake in Graphic Packaging during the 1st quarter worth about $38,000. PEAK6 Investments LLC lifted its stake in Graphic Packaging by 119.5% during the first quarter. PEAK6 Investments LLC now owns 7,295 shares of the industrial products company's stock valued at $213,000 after buying an additional 44,781 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Graphic Packaging by 40.7% in the first quarter. Mount Yale Investment Advisors LLC now owns 11,628 shares of the industrial products company's stock worth $339,000 after buying an additional 3,361 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of Graphic Packaging by 21.5% during the first quarter. Tidal Investments LLC now owns 35,962 shares of the industrial products company's stock valued at $1,049,000 after acquiring an additional 6,356 shares during the period. Institutional investors own 99.67% of the company's stock.

Insider Activity

In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the sale, the executive vice president now owns 81,026 shares of the company's stock, valued at $2,348,943.74. The trade was a 24.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Graphic Packaging Trading Up 1.1 %

GPK stock traded up $0.32 during midday trading on Monday, reaching $29.60. The company's stock had a trading volume of 2,502,863 shares, compared to its average volume of 2,548,260. The stock has a market cap of $8.88 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 11.38 and a beta of 0.83. The business's 50-day simple moving average is $29.15 and its 200-day simple moving average is $28.37. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. Graphic Packaging Holding has a 52 week low of $22.12 and a 52 week high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.04). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business posted $0.74 EPS. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Graphic Packaging Holding will post 2.52 EPS for the current year.

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 5th. Investors of record on Sunday, December 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, December 13th. Graphic Packaging's dividend payout ratio (DPR) is presently 17.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. StockNews.com cut Graphic Packaging from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an "underweight" rating in a 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 company an "outperform" rating in a research note on Wednesday, July 31st. Finally, Truist Financial downgraded shares of Graphic Packaging from a "buy" rating to a "hold" rating and cut their target price for the stock from $32.00 to $30.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $31.53.

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.