California Public Employees Retirement System Has $22.63 Million Holdings in Graco Inc. (NYSE:GGG)

California Public Employees Retirement System trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,470 shares of the industrial products company's stock after selling 18,388 shares during the period. California Public Employees Retirement System owned 0.16% of Graco worth $22,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GGG. Golden State Wealth Management LLC purchased a new position in shares of Graco during the 4th quarter worth $25,000. TD Private Client Wealth LLC lifted its stake in Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after purchasing an additional 190 shares during the last quarter. National Pension Service acquired a new position in Graco during the fourth quarter worth approximately $34,000. Whipplewood Advisors LLC purchased a new position in Graco during the 4th quarter worth $37,000. Finally, Brooklyn Investment Group raised its holdings in Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock worth $41,000 after purchasing an additional 136 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Finally, BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.00.

Remove Ads

Graco Price Performance

Shares of GGG traded up $1.85 during mid-day trading on Tuesday, hitting $76.28. The company's stock had a trading volume of 310,707 shares, compared to its average volume of 846,535. The firm has a 50-day moving average price of $84.39 and a 200 day moving average price of $85.50. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.85 and a beta of 0.92. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $93.01.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. As a group, equities analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, April 14th. Graco's payout ratio is 39.01%.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.