Graphic Packaging Holding (NYSE:GPK) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC reduced its stake in Graphic Packaging Holding (NYSE:GPK) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,416 shares of the industrial products company’s stock after selling 730 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Graphic Packaging were worth $1,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 1832 Asset Management L.P. lifted its position in Graphic Packaging by 1.1% in the second quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock valued at $860,000 after buying an additional 369 shares during the last quarter. Graypoint LLC increased its position in shares of Graphic Packaging by 2.4% in the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock valued at $458,000 after purchasing an additional 402 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Graphic Packaging by 0.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock valued at $1,422,000 after purchasing an additional 406 shares in the last quarter. Fiduciary Family Office LLC lifted its position in shares of Graphic Packaging by 2.6% during the 2nd quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 423 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Graphic Packaging by 1.8% during the third quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 465 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Graphic Packaging

In other news, EVP Michael James Farrell sold 25,900 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total value of $750,841.00. Following the transaction, the executive vice president now owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. This trade represents a 24.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GPK shares. Royal Bank of Canada lowered their price objective on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Truist Financial downgraded Graphic Packaging from a “buy” rating to a “hold” rating and decreased their price target for the stock from $32.00 to $30.00 in a report on Wednesday, October 30th. StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird boosted their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.53.

Graphic Packaging Stock Performance

NYSE:GPK opened at $29.63 on Tuesday. The company has a market cap of $8.89 billion, a P/E ratio of 12.66, a P/E/G ratio of 11.38 and a beta of 0.83. The firm’s 50 day moving average is $29.15 and its two-hundred day moving average is $28.37. Graphic Packaging Holding has a fifty-two week low of $22.12 and a fifty-two week high of $30.70. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. Analysts expect that Graphic Packaging Holding will post 2.52 EPS for the current year.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 5th. Investors of record on Sunday, December 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, December 13th. Graphic Packaging’s dividend payout ratio (DPR) is presently 17.09%.

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.