KBC Group NV Cuts Stock Position in Graphic Packaging Holding Company (NYSE:GPK)

KBC Group NV reduced its position in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 59.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,972 shares of the industrial products company's stock after selling 17,872 shares during the period. KBC Group NV's holdings in Graphic Packaging were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GPK. Proficio Capital Partners LLC purchased a new position in Graphic Packaging in the fourth quarter worth about $478,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Graphic Packaging by 92.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after buying an additional 689 shares during the last quarter. Victory Capital Management Inc. grew its position in Graphic Packaging by 9.0% during the fourth quarter. Victory Capital Management Inc. now owns 836,357 shares of the industrial products company's stock valued at $22,715,000 after buying an additional 68,956 shares during the period. Assetmark Inc. increased its holdings in Graphic Packaging by 8.8% during the fourth quarter. Assetmark Inc. now owns 91,781 shares of the industrial products company's stock valued at $2,493,000 after buying an additional 7,398 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Graphic Packaging during the fourth quarter valued at approximately $25,669,000. Institutional investors own 99.67% of the company's stock.

Graphic Packaging Price Performance

NYSE GPK traded down $0.26 during trading hours on Monday, reaching $21.76. The company's stock had a trading volume of 2,584,586 shares, compared to its average volume of 2,605,523. 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 0.73, a current ratio of 1.88 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 3.92 and a beta of 0.71. The firm's 50-day moving average price is $22.24 and its 200-day moving average price is $24.94.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.15% and a return on equity of 23.68%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The company's quarterly revenue was down 6.2% on a year-over-year basis. On average, equities research analysts predict that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Friday, June 13th. Graphic Packaging's dividend payout ratio (DPR) is presently 21.46%.

Graphic Packaging announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 23.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Royal Bank Of Canada cut their price target on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday, June 18th. BNP Paribas Exane downgraded Graphic Packaging from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. UBS Group assumed coverage on Graphic Packaging in a research note on Wednesday, June 4th. They set a "neutral" rating and a $24.00 price objective for the company. Finally, Raymond James Financial restated an "outperform" rating and set a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.40.

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.