TD Asset Management Inc Purchases New Shares in Graphic Packaging Holding Company (NYSE:GPK)

TD Asset Management Inc purchased a new stake in shares of Graphic Packaging Holding Company (NYSE:GPK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 548,715 shares of the industrial products company's stock, valued at approximately $14,245,000. TD Asset Management Inc owned approximately 0.18% of Graphic Packaging as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Graphic Packaging by 1,004.9% in the 1st quarter. Victory Capital Management Inc. now owns 9,240,697 shares of the industrial products company's stock worth $239,888,000 after purchasing an additional 8,404,340 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Graphic Packaging by 920.6% in the fourth quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company's stock worth $113,425,000 after buying an additional 3,767,011 shares during the last quarter. Norges Bank bought a new stake in shares of Graphic Packaging during the 4th quarter worth $98,268,000. Marshall Wace LLP grew its stake in Graphic Packaging by 735.3% in the 4th quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company's stock valued at $66,456,000 after buying an additional 2,153,925 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Graphic Packaging in the 4th quarter worth $25,669,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPK has been the subject of a number of recent analyst reports. Raymond James Financial restated an "outperform" rating and set a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. BNP Paribas Exane downgraded Graphic Packaging from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 25th. Truist Financial dropped 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. Wells Fargo & Company increased their price objective 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. Finally, Royal Bank Of Canada dropped 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 report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.38.

Graphic Packaging Price Performance

NYSE:GPK traded down $0.87 during mid-day trading on Friday, hitting $21.49. The company's stock had a trading volume of 5,163,142 shares, compared to its average volume of 3,070,346. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 12.14 and a beta of 0.71. The company has a current ratio of 1.43, a quick ratio of 0.73 and a debt-to-equity ratio of 1.68. Graphic Packaging Holding Company has a fifty-two week low of $20.86 and a fifty-two week high of $30.70. The stock has a fifty day moving average of $22.11 and a 200-day moving average of $24.42.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.13 billion. Graphic Packaging had a return on equity of 21.13% and a net margin of 6.18%. As a group, equities analysts forecast that Graphic Packaging Holding Company will post 2.47 EPS for the current fiscal year.

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

Graphic Packaging Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 5th. Stockholders of record on Monday, September 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. Graphic Packaging's dividend payout ratio is presently 24.86%.

Graphic Packaging Profile

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.