Seven Six Capital Management LLC Acquires Shares of 450,700 Graphic Packaging Holding (NYSE:GPK)

Seven Six Capital Management LLC acquired a new position in Graphic Packaging Holding (NYSE:GPK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 450,700 shares of the industrial products company's stock, valued at approximately $12,241,000. Graphic Packaging comprises about 10.6% of Seven Six Capital Management LLC's holdings, making the stock its biggest holding. Seven Six Capital Management LLC owned 0.15% of Graphic Packaging at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management lifted its position in shares of Graphic Packaging by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock valued at $30,000 after buying an additional 394 shares in the last quarter. Crews Bank & Trust bought a new stake in Graphic Packaging during the 4th quarter worth approximately $32,000. Avior Wealth Management LLC boosted its position in shares of Graphic Packaging by 2,484.0% in the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock worth $35,000 after purchasing an additional 1,242 shares during the period. Steward Partners Investment Advisory LLC boosted its position 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 purchasing an additional 689 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock worth $41,000 after purchasing an additional 549 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Down 0.7%

Shares of Graphic Packaging stock traded down $0.16 during trading on Thursday, reaching $22.66. The company's stock had a trading volume of 534,706 shares, compared to its average volume of 2,814,845. Graphic Packaging Holding has a 1-year low of $20.86 and a 1-year high of $30.70. The company has a 50-day simple moving average of $24.46 and a two-hundred day simple moving average of $26.62. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 2.10 and a beta of 0.81.

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

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

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 5th. Investors of record on Sunday, June 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.94%. Graphic Packaging's dividend payout ratio is presently 21.46%.

Wall Street Analyst Weigh In

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

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.