Jane Street Group LLC Decreases Stock Position in Graphic Packaging Holding (NYSE:GPK)

Jane Street Group LLC lowered its position in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 64.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,329 shares of the industrial products company's stock after selling 328,787 shares during the quarter. Jane Street Group LLC owned about 0.06% of Graphic Packaging worth $5,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GPK. 1832 Asset Management L.P. raised its position in Graphic Packaging by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company's stock worth $860,000 after buying an additional 369 shares during the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Graphic Packaging by 1.1% during the 3rd 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 period. Graypoint LLC grew its stake in shares of Graphic Packaging by 2.4% during the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company's stock valued at $458,000 after acquiring an additional 402 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Graphic Packaging by 0.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company's stock valued at $1,422,000 after acquiring an additional 406 shares during the period. Finally, Fiduciary Family Office LLC grew its stake in shares of Graphic Packaging by 2.6% during the 2nd quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company's stock valued at $441,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Price Performance

Shares of GPK traded down $0.28 during mid-day trading on Tuesday, hitting $28.74. 1,802,730 shares of the stock were exchanged, compared to its average volume of 2,510,840. The company has a market cap of $8.63 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 11.42 and a beta of 0.83. Graphic Packaging Holding has a 52-week low of $23.47 and a 52-week high of $30.70. The firm has a 50-day moving average of $29.23 and a two-hundred day moving average of $28.58. 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 (NYSE:GPK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). The company 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 business's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 EPS. On average, equities analysts predict that Graphic Packaging Holding will post 2.52 earnings per share for the current year.

Graphic Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, December 13th. Graphic Packaging's dividend payout ratio (DPR) is presently 17.09%.

Insider Buying and Selling at Graphic Packaging

In other news, CAO Charles D. Lischer sold 12,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the transaction, the chief accounting officer now owns 49,849 shares of the company's stock, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael James Farrell sold 25,900 shares of the firm'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 sale, the executive vice president now directly owns 81,026 shares in the company, valued at approximately $2,348,943.74. The trade was a 24.22 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on GPK shares. Truist Financial downgraded Graphic Packaging from a "buy" rating to a "hold" rating and cut their price objective for the company from $32.00 to $30.00 in a research note on Wednesday, October 30th. StockNews.com downgraded Graphic Packaging from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, 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. 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's stock. According to data from MarketBeat.com, the stock currently 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.