Xponance Inc. grew its holdings in Graphic Packaging Holding (NYSE:GPK – Free Report) by 64.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,890 shares of the industrial products company’s stock after purchasing an additional 23,158 shares during the period. Xponance Inc.’s holdings in Graphic Packaging were worth $1,415,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Private Trust Co. NA boosted its position in Graphic Packaging by 177.3% during the first quarter. Private Trust Co. NA now owns 1,109 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 709 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Graphic Packaging by 369.6% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,174 shares of the industrial products company’s stock valued at $30,000 after buying an additional 924 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Graphic Packaging in the 1st quarter valued at approximately $39,000. Jefferies Financial Group Inc. acquired a new position in Graphic Packaging in the fourth quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC bought a new position in Graphic Packaging during the first quarter valued at approximately $43,000. 99.67% of the stock is owned by hedge funds and other institutional investors.
Graphic Packaging Stock Down 0.9 %
Shares of GPK stock opened at $22.16 on Thursday. Graphic Packaging Holding has a 12 month low of $19.57 and a 12 month high of $27.56. The company has a quick ratio of 0.55, a current ratio of 1.36 and a debt-to-equity ratio of 2.06. The firm has a market cap of $6.81 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.32 and a beta of 0.98. The stock has a 50 day moving average of $22.71 and a 200-day moving average of $24.08.
Graphic Packaging Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.40 annualized dividend and a yield of 1.81%. Graphic Packaging’s dividend payout ratio is 17.54%.
Analysts Set New Price Targets
Several brokerages have recently commented on GPK. StockNews.com began coverage on shares of Graphic Packaging in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Bank of America lowered Graphic Packaging from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $29.00 in a report on Monday, July 10th. Wells Fargo & Company decreased their price target on Graphic Packaging from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. 888 reissued a “downgrade” rating on shares of Graphic Packaging in a research note on Thursday, June 29th. Finally, Citigroup decreased their target price on Graphic Packaging from $30.00 to $28.00 in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.44.
Get Our Latest Analysis on GPK
Graphic Packaging Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides fiber-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging products, such as folding cartons, cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies; and barrier packaging products that protect against moisture, hot and cold temperature, grease, oil, oxygen, sunlight, insects, and other potential product-damaging factors.
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