Jupiter Topco LLC bought a new position in shares of Graphic Packaging Holding Company (NYSE:GPK – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 132,265 shares of the industrial products company’s stock, valued at approximately $1,399,000.
Several other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in Graphic Packaging during the second quarter valued at approximately $440,345,000. Eminence Capital LP lifted its holdings in Graphic Packaging by 67.5% during the fourth quarter. Eminence Capital LP now owns 12,811,941 shares of the industrial products company’s stock worth $192,948,000 after buying an additional 5,163,806 shares during the period. Dimensional Fund Advisors LP boosted its position in Graphic Packaging by 18.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,728,031 shares of the industrial products company’s stock valued at $176,626,000 after acquiring an additional 1,824,110 shares in the last quarter. State Street Corp increased its holdings in shares of Graphic Packaging by 0.8% in the 4th quarter. State Street Corp now owns 9,877,303 shares of the industrial products company’s stock valued at $149,808,000 after acquiring an additional 81,300 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Graphic Packaging by 503.6% in the 4th quarter. AQR Capital Management LLC now owns 8,693,765 shares of the industrial products company’s stock valued at $130,928,000 after acquiring an additional 7,253,473 shares during the period. Institutional investors own 99.67% of the company’s stock.
Graphic Packaging Trading Down 2.2%
NYSE GPK opened at $10.46 on Friday. The company has a fifty day simple moving average of $11.11 and a two-hundred day simple moving average of $10.65. The stock has a market cap of $3.10 billion, a P/E ratio of 15.85 and a beta of 0.65. Graphic Packaging Holding Company has a 12-month low of $8.78 and a 12-month high of $21.71. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 1.58.
Graphic Packaging Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, September 15th. Graphic Packaging’s payout ratio is presently 66.67%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on GPK. UBS Group raised their price objective on Graphic Packaging from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Bank of America initiated coverage on shares of Graphic Packaging in a report on Tuesday, July 14th. They issued a “neutral” rating and a $12.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Graphic Packaging in a research report on Monday, June 29th. They set a “neutral” rating and a $11.70 price target for the company. Zacks Research upgraded shares of Graphic Packaging from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Graphic Packaging from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 5th. Nine investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $11.14.
Get Our Latest Research Report on GPK
Graphic Packaging Profile
Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.
Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.
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