Callan Family Office LLC Sells 9,677 Shares of Graco Inc. $GGG

Key Points

• Callan Family Office LLC has significantly reduced its stake in Graco Inc. (NYSE:GGG) by 62.7%, selling 9,677 shares to hold 5,765 shares valued at $481,000.
• Graco reported earnings of $0.75 per share for the latest quarter, falling short of the consensus estimate of $0.78 and generating revenue of $571.81 million, which was also below expectations.
• The company recently declared a quarterly dividend of $0.275 per share, resulting in an annualized dividend yield of 1.3%.

Callan Family Office LLC decreased its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 62.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,765 shares of the industrial products company's stock after selling 9,677 shares during the quarter. Callan Family Office LLC's holdings in Graco were worth $481,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in shares of Graco by 36.7% in the 4th quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company's stock worth $162,676,000 after acquiring an additional 518,462 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Graco by 76.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,147,341 shares of the industrial products company's stock worth $96,709,000 after buying an additional 495,293 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Graco by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company's stock worth $126,196,000 after buying an additional 486,277 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Graco by 9,453.1% in the 1st quarter. GAMMA Investing LLC now owns 400,180 shares of the industrial products company's stock worth $33,419,000 after buying an additional 395,991 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Graco during the 4th quarter valued at $31,553,000. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

NYSE GGG traded up $0.19 during trading hours on Monday, hitting $84.59. 144,910 shares of the company traded hands, compared to its average volume of 819,695. The business's 50-day moving average is $85.65 and its 200-day moving average is $84.13. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.85 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The business had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. During the same period in the prior year, the business posted $0.77 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st were given a dividend of $0.275 per share. The ex-dividend date was Monday, July 21st. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Graco's dividend payout ratio is currently 39.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GGG. Robert W. Baird raised their price target on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Wolfe Research initiated coverage on Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $94.50.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.