DAVENPORT & Co LLC Takes Position in Graphic Packaging Holding (NYSE:GPK)

Posted by on Oct 8th, 2023

DAVENPORT & Co LLC bought a new stake in Graphic Packaging Holding (NYSE:GPK – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,891 shares of the industrial products company’s stock, valued at approximately $334,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA boosted its position in shares of Graphic Packaging by 177.3% in the 1st quarter. Private Trust Co. NA now owns 1,109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 709 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Graphic Packaging by 369.6% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,174 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 924 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Graphic Packaging in the 1st quarter worth $39,000. Venturi Wealth Management LLC bought a new position in shares of Graphic Packaging in the 1st quarter worth $43,000. Finally, BOKF NA bought a new position in shares of Graphic Packaging in the 1st quarter worth $48,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock opened at $21.20 on Friday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.30 and a beta of 0.96. The stock’s 50-day moving average is $22.40 and its 200-day moving average is $23.99. Graphic Packaging Holding has a one year low of $19.57 and a one year high of $27.56. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.36 and a quick ratio of 0.55.

Graphic Packaging (NYSE:GPK – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.49 billion. Graphic Packaging had a net margin of 7.30% and a return on equity of 37.35%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Equities analysts predict that Graphic Packaging Holding will post 2.84 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, September 14th. Graphic Packaging’s dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

GPK has been the topic of several recent research reports. Bank of America lowered Graphic Packaging from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $29.00 in a research report on Monday, July 10th. 888 restated a “downgrade” rating on shares of Graphic Packaging in a research report on Thursday, June 29th. Wells Fargo & Company reduced their target price on Graphic Packaging from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. Citigroup reduced their target price on Graphic Packaging from $30.00 to $28.00 in a report on Monday, July 10th. Finally, Truist Financial reiterated a “buy” rating and set a $31.00 target price on shares of Graphic Packaging in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Graphic Packaging presently has a consensus rating of “Moderate Buy” and an average target price of $29.44.

Read Our Latest Stock Report on GPK

Graphic Packaging Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Graphic Packaging (NYSE:GPK)

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