Geode Capital Management LLC Lowers Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Geode Capital Management LLC lessened its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,005,217 shares of the industrial products company's stock after selling 58,257 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Graphic Packaging worth $148,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GPK. UMB Bank n.a. grew its position in Graphic Packaging by 546.6% during the 3rd quarter. UMB Bank n.a. now owns 944 shares of the industrial products company's stock worth $28,000 after purchasing an additional 798 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Graphic Packaging in the third quarter worth about $30,000. Atlas Capital Advisors LLC acquired a new stake in Graphic Packaging during the second quarter worth about $88,000. GAMMA Investing LLC raised its position in Graphic Packaging by 57.0% during the third quarter. GAMMA Investing LLC now owns 4,308 shares of the industrial products company's stock valued at $127,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Graphic Packaging by 13.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,816 shares of the industrial products company's stock valued at $152,000 after acquiring an additional 699 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GPK shares. StockNews.com downgraded shares of Graphic Packaging from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their price target on Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Finally, Truist Financial downgraded Graphic Packaging from a "buy" rating to a "hold" rating and lowered their price target for the stock from $32.00 to $30.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.53.

Insider Activity

In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the sale, the executive vice president now owns 81,026 shares of the company's stock, valued at $2,348,943.74. This trade represents a 24.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Charles D. Lischer sold 12,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total value of $355,800.00. Following the transaction, the chief accounting officer now directly owns 49,849 shares of the company's stock, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Graphic Packaging Trading Down 1.0 %

Shares of NYSE GPK traded down $0.28 during trading on Tuesday, hitting $28.74. 1,802,730 shares of the company were exchanged, compared to its average volume of 2,510,840. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. Graphic Packaging Holding has a 12-month low of $23.47 and a 12-month high of $30.70. The company has a fifty day moving average price of $29.23 and a 200-day moving average price of $28.58. The firm has a market capitalization of $8.63 billion, a PE ratio of 12.28, a P/E/G ratio of 11.42 and a beta of 0.83.

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

Graphic Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. Graphic Packaging's dividend payout ratio is currently 17.09%.

Graphic Packaging Company 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.