Graphic Packaging Holding (NYSE:GPK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,069 shares of the industrial products company's stock after selling 146,099 shares during the quarter. California Public Employees Retirement System owned 0.14% of Graphic Packaging worth $11,599,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Graphic Packaging during the 4th quarter worth approximately $98,268,000. Segall Bryant & Hamill LLC raised its position in shares of Graphic Packaging by 4.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 405,970 shares of the industrial products company's stock worth $11,026,000 after purchasing an additional 16,569 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Graphic Packaging by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 29,725,347 shares of the industrial products company's stock worth $807,340,000 after purchasing an additional 145,209 shares during the last quarter. LPL Financial LLC raised its position in shares of Graphic Packaging by 1.1% during the 4th quarter. LPL Financial LLC now owns 123,226 shares of the industrial products company's stock worth $3,347,000 after purchasing an additional 1,356 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Graphic Packaging during the 4th quarter worth approximately $649,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

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Graphic Packaging Stock Down 2.6 %

Graphic Packaging stock traded down $0.65 during trading on Thursday, reaching $24.10. 336,616 shares of the company's stock were exchanged, compared to its average volume of 2,424,925. The company's 50-day moving average is $26.21 and its two-hundred day moving average is $27.74. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. Graphic Packaging Holding has a 52-week low of $23.03 and a 52-week high of $30.70. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 2.10 and a beta of 0.80.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.04). The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.15 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. On average, analysts predict that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th were given a $0.11 dividend. This is a boost from Graphic Packaging's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, March 14th. Graphic Packaging's dividend payout ratio is presently 20.37%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company upgraded Graphic Packaging from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup restated a "neutral" rating and set a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Robert W. Baird cut their price target on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Finally, Truist Financial cut their price target on Graphic Packaging from $31.00 to $30.00 and set a "hold" rating for the company in a report on Monday, March 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $31.37.

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.