Chesapeake Capital Corp IL Raises Stock Position in Graphic Packaging Holding (NYSE:GPK)

Chesapeake Capital Corp IL boosted its holdings in Graphic Packaging Holding (NYSE:GPK) by 27.9% in the 3rd quarter, Holdings Channel reports. The firm owned 17,955 shares of the industrial products company’s stock after purchasing an additional 3,918 shares during the period. Chesapeake Capital Corp IL’s holdings in Graphic Packaging were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. 1832 Asset Management L.P. raised its position in Graphic Packaging by 1.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock worth $860,000 after buying an additional 369 shares during the last quarter. Graypoint LLC increased its holdings 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 in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings 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 in the last quarter. Fiduciary Family Office LLC increased its holdings 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 in the last quarter. Finally, KBC Group NV grew its holdings 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 buying an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GPK shares. 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 report on Thursday, October 17th. Truist Financial lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $30.00 in a research note on Wednesday, October 30th. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird upped their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a 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’s stock. According to data from MarketBeat, Graphic Packaging has a consensus rating of “Hold” and a consensus price target of $31.53.

Insiders Place Their Bets

In other news, EVP Michael James Farrell sold 25,900 shares of Graphic Packaging stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the transaction, the executive vice president now owns 81,026 shares in the company, valued at $2,348,943.74. The trade was a 24.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Graphic Packaging Stock Performance

Shares of NYSE GPK opened at $28.24 on Friday. The business has a fifty day simple moving average of $29.23 and a 200 day simple moving average of $28.30. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 10.98 and a beta of 0.83. Graphic Packaging Holding has a one year low of $22.04 and a one year high of $30.70.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) 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 company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts expect that Graphic Packaging Holding will post 2.52 EPS for the current year.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 5th. Investors of record on Sunday, December 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, December 13th. Graphic Packaging’s dividend payout ratio is 17.09%.

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.