Graphic Packaging Holding Company $GPK Shares Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. reduced its holdings in Graphic Packaging Holding Company (NYSE:GPK) by 9.9%, selling 172,200 shares during the 2nd quarter, leaving them with approximately 1,559,900 shares.
• Recent analyst reports have led to a consensus average rating of "Hold" for GPK, with target prices ranging from $20.00 to $26.00.
• Graphic Packaging announced a quarterly dividend of $0.11 per share, with a payout ratio of 24.86%, marking a dividend yield of 2.3%.

Hennessy Advisors Inc. decreased its holdings in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,559,900 shares of the industrial products company's stock after selling 172,200 shares during the quarter. Graphic Packaging accounts for about 1.1% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 21st largest position. Hennessy Advisors Inc. owned approximately 0.52% of Graphic Packaging worth $32,867,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Graphic Packaging in the first quarter worth approximately $28,000. Brooklyn Investment Group grew its position in Graphic Packaging by 69.9% during the 1st quarter. Brooklyn Investment Group now owns 1,065 shares of the industrial products company's stock worth $28,000 after purchasing an additional 438 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Graphic Packaging during the 1st quarter valued at $42,000. UMB Bank n.a. raised its stake in Graphic Packaging by 42.3% during the 1st quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 632 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in Graphic Packaging during the 1st quarter valued at $64,000. Institutional investors and hedge funds own 99.67% of the company's stock.

Wall Street Analyst Weigh In

GPK has been the topic of several recent analyst reports. Truist Financial cut their target price on shares of Graphic Packaging from $24.00 to $23.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. BNP Paribas Exane downgraded shares of Graphic Packaging from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada cut their target price on shares of Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 18th. Bank of America cut their target price on shares of Graphic Packaging from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company cut their target price on shares of Graphic Packaging from $23.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $26.00.

Graphic Packaging Trading Down 0.5%

Graphic Packaging stock opened at $19.36 on Friday. The company's fifty day simple moving average is $21.36 and its 200-day simple moving average is $22.59. The company has a quick ratio of 0.56, a current ratio of 1.43 and a debt-to-equity ratio of 1.68. Graphic Packaging Holding Company has a 12 month low of $19.05 and a 12 month high of $30.70. The stock has a market cap of $5.73 billion, a P/E ratio of 10.94, a P/E/G ratio of 6.61 and a beta of 0.74.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings data 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. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. Graphic Packaging has set its FY 2025 guidance at 1.900-2.20 EPS. As a group, sell-side analysts forecast that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Monday, September 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 15th. Graphic Packaging's payout ratio is presently 24.86%.

Insider Buying and Selling at Graphic Packaging

In related news, Director Philip R. Martens sold 7,015 shares of Graphic Packaging stock in a transaction on Monday, August 4th. The shares were sold at an average price of $21.80, for a total value of $152,927.00. Following the completion of the sale, the director owned 26,811 shares of the company's stock, valued at approximately $584,479.80. The trade was a 20.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph P. Yost sold 30,000 shares of Graphic Packaging stock in a transaction on Monday, August 25th. The shares were 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 directly owned 255,203 shares of the company's stock, valued at approximately $5,798,212.16. The trade was a 10.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,752 shares of company stock valued at $2,073,663. 1.41% of the stock is owned by company insiders.

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.

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.