Handelsbanken Fonder AB Sells 2,287,000 Shares of Graphic Packaging Holding Company $GPK

Key Points

• Handelsbanken Fonder AB slashed its stake in Graphic Packaging by 96.7% in Q3, selling 2,287,000 shares and leaving 78,152 shares valued at about $1.53 million.
• CEO Robbert Rietbroek made an insider buy of 44,278 shares at an average price of $11.32 (≈$501,227 total), increasing his ownership in the company.
• Analyst sentiment has weakened — recent price-target cuts and a consensus mix of eight Holds and three Sells leave the stock with an average rating of "Reduce" and an average target of $16.63.

Handelsbanken Fonder AB cut its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 96.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,152 shares of the industrial products company's stock after selling 2,287,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Graphic Packaging were worth $1,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Bessemer Group Inc. grew its position in shares of Graphic Packaging by 130.7% during the second quarter. Bessemer Group Inc. now owns 1,382 shares of the industrial products company's stock worth $29,000 after purchasing an additional 783 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Graphic Packaging during the 3rd quarter valued at approximately $31,000. Hantz Financial Services Inc. raised its position in shares of Graphic Packaging by 1,356.1% during the second quarter. Hantz Financial Services Inc. now owns 1,791 shares of the industrial products company's stock valued at $38,000 after buying an additional 1,668 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of Graphic Packaging in the second quarter worth $42,000. Finally, Global Retirement Partners LLC grew its stake in Graphic Packaging by 65.2% during the third quarter. Global Retirement Partners LLC now owns 2,291 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 904 shares in the last quarter. Institutional investors own 99.67% of the company's stock.

Insider Buying and Selling at Graphic Packaging

In other news, CEO Robbert Rietbroek purchased 44,278 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average cost of $11.32 per share, with a total value of $501,226.96. Following the purchase, the chief executive officer owned 44,278 shares in the company, valued at approximately $501,226.96. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.41% of the company's stock.

Analyst Ratings Changes

GPK has been the topic of a number of research reports. Wells Fargo & Company reduced their price target on shares of Graphic Packaging from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, February 4th. UBS Group reduced their target price on Graphic Packaging from $19.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, January 12th. Royal Bank Of Canada set a $13.00 price target on Graphic Packaging in a research note on Wednesday, February 4th. Robert W. Baird set a $15.00 price target on Graphic Packaging in a report on Wednesday, February 4th. Finally, Citigroup reduced their price objective on Graphic Packaging from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. Eight analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $16.63.

Graphic Packaging Trading Down 0.6%

GPK opened at $11.21 on Thursday. The stock has a 50-day moving average of $14.01 and a 200 day moving average of $16.64. The company has a current ratio of 1.30, a quick ratio of 0.52 and a debt-to-equity ratio of 1.50. Graphic Packaging Holding Company has a 12 month low of $11.02 and a 12 month high of $28.19. The firm has a market cap of $3.31 billion, a P/E ratio of 7.57 and a beta of 0.65.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $2.10 billion during the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%. As a group, research analysts forecast that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Sunday, March 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 3.9%. Graphic Packaging's payout ratio is 29.73%.

Graphic Packaging Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.

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