California Public Employees Retirement System increased its position in Graphic Packaging Holding (NYSE:GPK) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 666,220 shares of the industrial products company’s stock after acquiring an additional 12,877 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Graphic Packaging worth $9,387,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Clear Investment Research LLC boosted its position in shares of Graphic Packaging by 0.8% during the 2nd quarter. Clear Investment Research LLC now owns 91,559 shares of the industrial products company’s stock valued at $1,281,000 after purchasing an additional 714 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in shares of Graphic Packaging by 1.8% in the third quarter. NN Investment Partners Holdings N.V. now owns 86,000 shares of the industrial products company’s stock worth $1,211,000 after buying an additional 1,500 shares during the period. Berman Capital Advisors LLC boosted its holdings in shares of Graphic Packaging by 8.6% in the third quarter. Berman Capital Advisors LLC now owns 21,773 shares of the industrial products company’s stock worth $306,000 after buying an additional 1,725 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Graphic Packaging by 30.2% in the second quarter. Parkside Financial Bank & Trust now owns 10,139 shares of the industrial products company’s stock worth $142,000 after buying an additional 2,349 shares during the period. Finally, Private Advisor Group LLC acquired a new position in shares of Graphic Packaging in the second quarter worth about $40,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.
GPK has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 21st. ValuEngine raised shares of Graphic Packaging from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Seaport Global Securities raised shares of Graphic Packaging from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, September 8th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $16.29.
Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Graphic Packaging had a net margin of 2.12% and a return on equity of 15.24%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. On average, sell-side analysts anticipate that Graphic Packaging Holding will post 1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, December 14th. Graphic Packaging’s dividend payout ratio is 34.48%.
Graphic Packaging Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging products, such as folding cartons, cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
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