Graphic Packaging Holding Company (NYSE:GPK) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,655,111 shares of the industrial products company's stock after buying an additional 929,764 shares during the quarter. Vanguard Group Inc. owned approximately 10.16% of Graphic Packaging worth $795,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Clear Investment Research LLC boosted its position in Graphic Packaging by 2.4% during the first quarter. Clear Investment Research LLC now owns 223,215 shares of the industrial products company's stock worth $5,795,000 after purchasing an additional 5,289 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Graphic Packaging by 23.3% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 98,889 shares of the industrial products company's stock worth $2,567,000 after purchasing an additional 18,668 shares in the last quarter. Blair William & Co. IL boosted its position in Graphic Packaging by 4.1% during the first quarter. Blair William & Co. IL now owns 30,229 shares of the industrial products company's stock worth $785,000 after purchasing an additional 1,200 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Graphic Packaging during the first quarter worth approximately $653,000. Finally, US Bancorp DE boosted its position in Graphic Packaging by 4.8% during the first quarter. US Bancorp DE now owns 14,288 shares of the industrial products company's stock worth $371,000 after purchasing an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company's stock.

Insider Activity at Graphic Packaging

In related news, Director Philip R. Martens sold 7,015 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was 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. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.41% of the company's stock.

Graphic Packaging Price Performance

Shares of NYSE GPK traded down $0.44 during midday trading on Thursday, hitting $22.69. The stock had a trading volume of 3,459,260 shares, compared to its average volume of 3,902,600. The company has a market capitalization of $6.72 billion, a PE ratio of 12.82, a P/E/G ratio of 7.82 and a beta of 0.73. The stock has a 50 day simple moving average of $22.12 and a 200-day simple moving average of $24.05. Graphic Packaging Holding Company has a 1 year low of $20.86 and a 1 year high of $30.70. 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 (NYSE:GPK - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Graphic Packaging had a return on equity of 21.13% and a net margin of 6.18%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. On average, sell-side analysts expect that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its board has approved a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 23.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 5th. Investors of record on Monday, September 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, September 15th. Graphic Packaging's dividend payout ratio (DPR) is currently 24.86%.

Wall Street Analyst Weigh In

GPK has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Graphic Packaging in a research report on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price target on the stock. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Truist Financial lowered their price target on Graphic Packaging from $24.00 to $23.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. BNP Paribas Exane downgraded Graphic Packaging from an "outperform" rating to a "neutral" rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company raised their target price on Graphic Packaging from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. 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, Graphic Packaging has a consensus rating of "Hold" and an average price target of $26.38.

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.