State of Alaska Department of Revenue Has $2.19 Million Holdings in Graphic Packaging Holding Company $GPK

Key Points

• The State of Alaska Department of Revenue increased its stake in Graphic Packaging Holding Company by 195.1% in the second quarter, growing its holdings to $2.19 million.
• Analysts have recently downgraded Graphic Packaging's stock ratings, with multiple firms lowering target prices, resulting in a consensus rating of "Hold" and an average target price of $26.00.
• Graphic Packaging announced a quarterly dividend of $0.11 per share, representing an annualized dividend yield of 2.3%, with a payout ratio of 24.86%.

State of Alaska Department of Revenue grew its stake in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 195.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,750 shares of the industrial products company's stock after acquiring an additional 68,595 shares during the period. State of Alaska Department of Revenue's holdings in Graphic Packaging were worth $2,185,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Graphic Packaging during the first quarter worth approximately $28,000. Brooklyn Investment Group lifted its position in Graphic Packaging by 69.9% during the first quarter. Brooklyn Investment Group now owns 1,065 shares of the industrial products company's stock worth $28,000 after acquiring an additional 438 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Graphic Packaging during the first quarter worth approximately $42,000. UMB Bank n.a. lifted its position in Graphic Packaging by 42.3% during the first quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock worth $55,000 after acquiring an additional 632 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Graphic Packaging during the first quarter worth approximately $64,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Graphic Packaging news, Director Philip R. Martens sold 7,015 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $21.80, for a total transaction of $152,927.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph P. Yost sold 30,000 shares of the business'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 sale, the executive vice president directly owned 255,203 shares in the company, 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 have sold 93,752 shares of company stock worth $2,073,663. Insiders own 1.41% of the company's stock.

Graphic Packaging Stock Performance

Shares of NYSE:GPK opened at $19.45 on Friday. The company's 50 day simple moving average is $21.44 and its 200 day simple moving average is $22.64. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 6.65 and a beta of 0.74. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.43 and a quick ratio of 0.56. Graphic Packaging Holding Company has a 1 year low of $19.05 and a 1 year high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations 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. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis 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%.

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.