Graphic Packaging Holding (NYSE:GPK) Position Trimmed by Synergy Asset Management LLC

Synergy Asset Management LLC lessened its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,346 shares of the industrial products company’s stock after selling 5,987 shares during the quarter. Synergy Asset Management LLC’s holdings in Graphic Packaging were worth $795,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Graphic Packaging in the 1st quarter valued at approximately $26,000. Principal Securities Inc. bought a new stake in shares of Graphic Packaging in the 4th quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Graphic Packaging in the 4th quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in shares of Graphic Packaging in the 1st quarter valued at approximately $38,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Graphic Packaging in the 4th quarter valued at approximately $50,000. Institutional investors own 99.67% of the company’s stock.

Insider Activity at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now directly owns 1,909,576 shares in the company, valued at $53,296,266.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on GPK shares. StockNews.com raised Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Graphic Packaging in a report on Wednesday, July 31st. Citigroup reduced their target price on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. Stifel Nicolaus assumed coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Graphic Packaging in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Graphic Packaging Stock Performance

Shares of GPK stock traded up $0.37 during trading hours on Friday, reaching $29.25. 22,902 shares of the company’s stock were exchanged, compared to its average volume of 2,573,541. Graphic Packaging Holding has a fifty-two week low of $20.07 and a fifty-two week high of $30.66. The stock has a market capitalization of $8.99 billion, a P/E ratio of 13.07, a P/E/G ratio of 5.16 and a beta of 0.84. The business has a fifty day moving average price of $28.00 and a 200-day moving average price of $27.65. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Analysts predict that Graphic Packaging Holding will post 2.72 EPS for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Investors of record on Sunday, September 15th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. Graphic Packaging’s payout ratio is 18.10%.

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.