Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Graphic Packaging Holding (NYSE:GPK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Graphic Packaging Holding (NYSE:GPK) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,939 shares of the industrial products company’s stock after purchasing an additional 1,489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Graphic Packaging were worth $2,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 1832 Asset Management L.P. lifted its position in shares of Graphic Packaging by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 369 shares during the period. Graypoint LLC lifted its position in Graphic Packaging by 2.4% during the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock valued at $458,000 after acquiring an additional 402 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Graphic Packaging by 0.8% during 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 acquiring an additional 406 shares during the period. Fiduciary Family Office LLC lifted its position in 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 valued at $441,000 after acquiring an additional 423 shares during the period. Finally, KBC Group NV lifted its position in Graphic Packaging by 1.8% during the 3rd quarter. KBC Group NV now owns 26,805 shares of the industrial products company’s stock valued at $793,000 after acquiring an additional 465 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Graphic Packaging

In other news, CAO Charles D. Lischer sold 12,000 shares of Graphic Packaging stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the completion of the sale, the chief accounting officer now directly owns 49,849 shares in the company, valued at $1,478,022.85. The trade was a 19.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael James Farrell sold 25,900 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the completion of the sale, the executive vice president now owns 81,026 shares of the company’s stock, valued at $2,348,943.74. This represents a 24.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Truist Financial cut shares of Graphic Packaging from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $30.00 in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.53.

Graphic Packaging Stock Down 0.9 %

NYSE:GPK opened at $29.79 on Thursday. The firm has a market cap of $8.94 billion, a P/E ratio of 12.73, a P/E/G ratio of 11.77 and a beta of 0.83. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. Graphic Packaging Holding has a fifty-two week low of $22.66 and a fifty-two week high of $30.70. The firm has a 50-day simple moving average of $29.19 and a two-hundred day simple moving average of $28.47.

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

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th will be paid a $0.10 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.34%. Graphic Packaging’s dividend payout ratio 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.