Allspring Global Investments Holdings LLC Sells 131,815 Shares of Graphic Packaging Holding Company (NYSE:GPK)

Allspring Global Investments Holdings LLC decreased its position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 comprises 0.7% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 17th largest holding. Allspring Global Investments Holdings LLC owned 5.43% of Graphic Packaging worth $429,257,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Graphic Packaging by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 29,725,347 shares of the industrial products company's stock valued at $807,340,000 after buying an additional 145,209 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Graphic Packaging by 7.9% in the 4th quarter. American Century Companies Inc. now owns 16,555,660 shares of the industrial products company's stock valued at $449,652,000 after buying an additional 1,206,295 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Graphic Packaging by 5.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 14,600,941 shares of the industrial products company's stock valued at $396,562,000 after buying an additional 788,066 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Graphic Packaging by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,872,765 shares of the industrial products company's stock valued at $186,666,000 after buying an additional 414,109 shares in the last quarter. Finally, Eminence Capital LP grew its stake in shares of Graphic Packaging by 7.7% in the 4th quarter. Eminence Capital LP now owns 5,824,872 shares of the industrial products company's stock valued at $158,204,000 after buying an additional 418,013 shares in the last quarter. Institutional investors own 99.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada decreased their target price on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. UBS Group assumed coverage on Graphic Packaging in a research report on Wednesday, June 4th. They set a "neutral" rating and a $24.00 target price for the company. BNP Paribas Exane cut Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday. Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Finally, Truist Financial decreased their target price on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $28.40.

Graphic Packaging Price Performance

Shares of GPK stock traded down $0.16 during mid-day trading on Friday, reaching $21.01. The company's stock had a trading volume of 5,079,319 shares, compared to its average volume of 2,600,310. The firm's 50-day moving average is $22.64 and its two-hundred day moving average is $25.20. The company has a market cap of $6.34 billion, a P/E ratio of 10.25, a PEG ratio of 3.74 and a beta of 0.74. Graphic Packaging Holding Company has a 1-year low of $20.86 and a 1-year high of $30.70. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 1.88.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share 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 business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business's revenue was down 6.2% compared to the same quarter last year. On average, research analysts predict that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging announced that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 5th. Stockholders of record on Sunday, June 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.09%. Graphic Packaging's dividend payout ratio (DPR) is presently 21.46%.

Graphic Packaging Profile

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.