Graphic Packaging Holding Company (NYSE:GPK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,371,374 shares of the industrial products company's stock after selling 131,815 shares during the quarter. Graphic Packaging accounts for 0.7% of Allspring Global Investments Holdings LLC's holdings, making the stock its 17th largest holding. Allspring Global Investments Holdings LLC owned approximately 5.43% of Graphic Packaging worth $429,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GPK. Alliancebernstein L.P. increased its stake in Graphic Packaging by 920.6% during the fourth quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company's stock worth $113,425,000 after purchasing an additional 3,767,011 shares during the period. Norges Bank purchased a new stake in Graphic Packaging during the 4th quarter worth approximately $98,268,000. Marshall Wace LLP lifted its holdings in Graphic Packaging by 735.3% during the 4th quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company's stock worth $66,456,000 after buying an additional 2,153,925 shares in the last quarter. American Century Companies Inc. lifted its holdings in Graphic Packaging by 7.9% during the 4th quarter. American Century Companies Inc. now owns 16,555,660 shares of the industrial products company's stock worth $449,652,000 after buying an additional 1,206,295 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Graphic Packaging in the 4th quarter valued at approximately $25,669,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Stock Up 3.6%

GPK stock traded up $0.76 during trading on Tuesday, hitting $21.83. 4,367,828 shares of the company's stock were exchanged, compared to its average volume of 2,606,764. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 3.74 and a beta of 0.74. Graphic Packaging Holding Company has a 52-week low of $20.86 and a 52-week high of $30.70. The company has a current ratio of 1.88, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The business has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $25.15.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.15% and a return on equity of 23.68%. The company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the business earned $0.66 earnings per share. The company's quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts expect that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging declared that its board has approved a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 23.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 5th. Stockholders of record on Sunday, June 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, June 13th. Graphic Packaging's payout ratio is currently 21.46%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GPK. Raymond James Financial reiterated an "outperform" rating and issued a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Royal Bank Of Canada reduced their price target on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. BNP Paribas Exane downgraded Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday, June 25th. Truist Financial reduced their target price on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group started coverage on shares of Graphic Packaging in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 price target for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $28.40.

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.