Wellington Management Group LLP Sells 570,111 Shares of Graphic Packaging Holding (NYSE:GPK)

Wellington Management Group LLP lessened its stake in Graphic Packaging Holding (NYSE:GPK - Free Report) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,511,456 shares of the industrial products company's stock after selling 570,111 shares during the quarter. Wellington Management Group LLP owned 3.50% of Graphic Packaging worth $311,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPK. Worldquant Millennium Advisors LLC boosted its position in Graphic Packaging by 1.1% during the third quarter. Worldquant Millennium Advisors LLC now owns 38,064 shares of the industrial products company's stock valued at $1,126,000 after purchasing an additional 401 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Graphic Packaging during the 3rd quarter valued at about $1,151,000. Menard Financial Group LLC lifted its holdings in shares of Graphic Packaging by 13.1% during the 3rd quarter. Menard Financial Group LLC now owns 16,595 shares of the industrial products company's stock valued at $491,000 after buying an additional 1,921 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Graphic Packaging by 4.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,697,512 shares of the industrial products company's stock valued at $50,228,000 after buying an additional 76,313 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in Graphic Packaging by 1.8% during the third quarter. Benjamin Edwards Inc. now owns 43,608 shares of the industrial products company's stock valued at $1,290,000 after acquiring an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Insider Activity at Graphic Packaging

In related news, EVP Michael James Farrell sold 25,900 shares of the 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 transaction, the executive vice president now owns 81,026 shares of the company's stock, valued at $2,348,943.74. This represents a 24.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Charles D. Lischer sold 12,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the sale, the chief accounting officer now owns 49,849 shares in the company, 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. Corporate insiders own 1.20% of the company's stock.

Graphic Packaging Stock Performance

GPK traded up $0.32 during trading on Friday, hitting $29.53. The stock had a trading volume of 2,392,085 shares, compared to its average volume of 1,866,719. The firm has a market cap of $8.86 billion, a PE ratio of 12.62, a P/E/G ratio of 11.58 and a beta of 0.83. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. Graphic Packaging Holding has a 12 month low of $22.76 and a 12 month high of $30.70. The company has a 50 day simple moving average of $29.18 and a 200-day simple moving average of $28.50.

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

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 5th. Investors of record on Sunday, December 15th will be given a dividend of $0.10 per share. 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 currently 17.09%.

Wall Street Analysts Forecast Growth

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

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.