Teza Capital Management LLC Takes $657,000 Position in Graphic Packaging Holding (NYSE:GPK)

Teza Capital Management LLC bought a new stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,204 shares of the industrial products company's stock, valued at approximately $657,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Graphic Packaging by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 29,725,347 shares of the industrial products company's stock valued at $807,340,000 after purchasing an additional 145,209 shares during the period. American Century Companies Inc. grew its holdings in Graphic Packaging by 7.9% in the fourth quarter. American Century Companies Inc. now owns 16,555,660 shares of the industrial products company's stock valued at $449,652,000 after purchasing an additional 1,206,295 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Graphic Packaging by 11.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company's stock valued at $441,990,000 after purchasing an additional 1,702,764 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Graphic Packaging by 5.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 14,600,941 shares of the industrial products company's stock valued at $396,562,000 after purchasing an additional 788,066 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Graphic Packaging by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock valued at $313,957,000 after acquiring an additional 787,266 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on GPK. Raymond James restated an "outperform" rating and issued a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Royal Bank of Canada reduced their price objective on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird reduced their target price on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial dropped their price objective on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Graphic Packaging Stock Down 0.0%

GPK traded down $0.00 on Friday, hitting $22.62. 3,175,577 shares of the company were exchanged, compared to its average volume of 2,520,934. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The firm has a 50-day moving average price of $24.31 and a two-hundred day moving average price of $26.53. Graphic Packaging Holding has a twelve month low of $20.86 and a twelve month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.14 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, June 13th. Graphic Packaging's dividend payout ratio (DPR) is 21.46%.

Graphic Packaging announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the industrial products company to purchase up to 23.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.