First Citizens Bank & Trust Co. Has $676,000 Stock Position in Graphic Packaging Holding Company $GPK

First Citizens Bank & Trust Co. grew its stake in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 280.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,060 shares of the industrial products company's stock after buying an additional 23,631 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Graphic Packaging were worth $676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Graphic Packaging by 54.7% in the 2nd quarter. GAMMA Investing LLC now owns 5,841 shares of the industrial products company's stock worth $123,000 after purchasing an additional 2,065 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Graphic Packaging by 75.3% in the first quarter. Teacher Retirement System of Texas now owns 50,534 shares of the industrial products company's stock valued at $1,312,000 after purchasing an additional 21,708 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Graphic Packaging by 3.1% during the first quarter. New York State Teachers Retirement System now owns 221,927 shares of the industrial products company's stock worth $5,761,000 after buying an additional 6,623 shares during the period. Advocate Group LLC grew its holdings in shares of Graphic Packaging by 16.2% during the second quarter. Advocate Group LLC now owns 290,184 shares of the industrial products company's stock worth $6,114,000 after buying an additional 40,466 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Graphic Packaging by 21.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 434,871 shares of the industrial products company's stock valued at $9,163,000 after buying an additional 77,162 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GPK has been the subject of several research reports. Raymond James Financial cut shares of Graphic Packaging from an "outperform" rating to a "market perform" rating in a research note on Friday, October 17th. Truist Financial reduced their target price on shares of Graphic Packaging from $23.00 to $20.00 and set a "hold" rating for the company in a report on Monday, October 13th. Citigroup decreased their target price on shares of Graphic Packaging from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Bank of America reissued a "neutral" rating and set a $24.00 price target on shares of Graphic Packaging in a research report on Thursday, October 9th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Graphic Packaging in a report on Saturday. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $23.00.

Graphic Packaging Stock Down 2.5%

Graphic Packaging stock opened at $17.23 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.43 and a quick ratio of 0.56. The company's 50-day moving average is $19.95 and its 200-day moving average is $21.78. The firm has a market capitalization of $5.11 billion, a PE ratio of 9.74 and a beta of 0.74. Graphic Packaging Holding Company has a fifty-two week low of $16.94 and a fifty-two week high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.13 billion. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. Graphic Packaging has set its FY 2025 guidance at 1.900-2.20 EPS. Sell-side analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Monday, September 15th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.6%. Graphic Packaging's payout ratio is presently 24.86%.

Insiders Place Their Bets

In other Graphic Packaging news, EVP Joseph P. Yost sold 30,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $22.72, for a total transaction of $681,600.00. Following the completion of the sale, the executive vice president owned 255,203 shares of the company's stock, valued at $5,798,212.16. This trade represents a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Philip R. Martens sold 7,015 shares of Graphic Packaging stock in a transaction on Monday, August 4th. The stock was sold at an average price of $21.80, for a total transaction of $152,927.00. Following the transaction, the director directly owned 26,811 shares of the company's stock, valued at approximately $584,479.80. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,752 shares of company stock worth $2,073,663. 1.41% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding GPK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Graphic Packaging Holding Company (NYSE:GPK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.