Graphic Packaging Holding Company (NYSE:GPK) Stock Holdings Lessened by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. lessened its stake in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 37.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,567 shares of the industrial products company's stock after selling 19,699 shares during the quarter. Bridgewater Advisors Inc.'s holdings in Graphic Packaging were worth $835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its position in shares of Graphic Packaging by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock worth $30,000 after acquiring an additional 394 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after acquiring an additional 689 shares during the last quarter. Mizuho Bank Ltd. purchased a new stake in shares of Graphic Packaging during the fourth quarter worth about $43,000. Wayfinding Financial LLC purchased a new stake in shares of Graphic Packaging during the first quarter worth about $42,000. Finally, UMB Bank n.a. increased its position in shares of Graphic Packaging by 42.3% during the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock worth $55,000 after acquiring an additional 632 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GPK. Raymond James Financial reissued an "outperform" rating and issued a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Bank of America lowered their price objective on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Truist Financial lowered their price objective on Graphic Packaging from $24.00 to $23.00 and set a "hold" rating for the company in a report on Friday, July 11th. 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 note on Wednesday, June 18th. Finally, UBS Group assumed coverage on Graphic Packaging in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 target price for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $26.88.

Graphic Packaging Stock Performance

Shares of NYSE GPK traded up $0.04 during midday trading on Wednesday, hitting $22.01. 5,179,577 shares of the company's stock were exchanged, compared to its average volume of 2,622,418. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.88 and a quick ratio of 0.73. The stock's 50 day moving average price is $22.15 and its 200-day moving average price is $24.72. The firm has a market cap of $6.64 billion, a P/E ratio of 10.73 and a beta of 0.71. Graphic Packaging Holding Company has a twelve month low of $20.86 and a twelve month high of $30.70.

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

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th were given a $0.11 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 2.00%. Graphic Packaging's dividend payout ratio (DPR) is 21.46%.

Graphic Packaging announced that its board has authorized a share repurchase program on Thursday, May 1st that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Graphic Packaging Company 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.