First Republic Investment Management Inc. lowered its position in Graphic Packaging Holding (NYSE:GPK – Free Report) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,110 shares of the industrial products company’s stock after selling 1,307 shares during the period. First Republic Investment Management Inc.’s holdings in Graphic Packaging were worth $820,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Shell Asset Management Co. acquired a new position in Graphic Packaging during the second quarter valued at approximately $534,000. Linden Thomas Advisory Services LLC grew its holdings in Graphic Packaging by 3.2% during the second quarter. Linden Thomas Advisory Services LLC now owns 39,175 shares of the industrial products company’s stock valued at $941,000 after purchasing an additional 1,226 shares during the last quarter. Virtu Financial LLC acquired a new position in Graphic Packaging during the second quarter valued at approximately $436,000. New York State Teachers Retirement System acquired a new position in Graphic Packaging during the second quarter valued at approximately $4,776,000. Finally, Coronation Fund Managers Ltd. grew its holdings in Graphic Packaging by 21.2% during the second quarter. Coronation Fund Managers Ltd. now owns 391,222 shares of the industrial products company’s stock valued at $9,401,000 after purchasing an additional 68,462 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.
Graphic Packaging Stock Performance
Shares of NYSE:GPK opened at $20.43 on Monday. Graphic Packaging Holding has a twelve month low of $20.35 and a twelve month high of $27.56. The firm has a market cap of $6.28 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.29 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.55 and a current ratio of 1.36. The business has a fifty day moving average of $22.01 and a 200-day moving average of $23.73.
Graphic Packaging Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Thursday, September 14th. Graphic Packaging’s dividend payout ratio (DPR) is currently 17.54%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reduced their price objective on Graphic Packaging from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, October 18th. 888 reissued a “downgrade” rating on shares of Graphic Packaging in a research report on Thursday, June 29th. Bank of America cut Graphic Packaging from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $29.00 in a research report on Monday, July 10th. StockNews.com assumed coverage on Graphic Packaging in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Raymond James reissued a “strong-buy” rating and issued a $30.00 price objective on shares of Graphic Packaging in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.
Read Our Latest Research Report on GPK
Graphic Packaging Company 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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