Graphic Packaging Holding (NYSE:GPK) Shares Sold by Waycross Investment Management Co

Waycross Investment Management Co lessened its position in shares of Graphic Packaging Holding (NYSE:GPK) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,014 shares of the industrial products company’s stock after selling 782 shares during the quarter. Graphic Packaging makes up 1.2% of Waycross Investment Management Co’s holdings, making the stock its 25th biggest position. Waycross Investment Management Co’s holdings in Graphic Packaging were worth $1,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in Graphic Packaging by 2.0% in the second quarter. Commonwealth Equity Services LLC now owns 26,832 shares of the industrial products company’s stock valued at $703,000 after buying an additional 519 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Graphic Packaging by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 761,881 shares of the industrial products company’s stock valued at $19,969,000 after purchasing an additional 12,873 shares in the last quarter. Inspire Advisors LLC grew its position in shares of Graphic Packaging by 9.9% in the 2nd quarter. Inspire Advisors LLC now owns 10,313 shares of the industrial products company’s stock valued at $270,000 after buying an additional 931 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Graphic Packaging by 7.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock valued at $251,632,000 after purchasing an additional 706,486 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Graphic Packaging by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock valued at $158,693,000 after buying an additional 362,509 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael James Farrell sold 25,900 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Charles D. Lischer sold 12,000 shares of the company’s stock in a transaction dated 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 owns 49,849 shares of the company’s stock, valued at $1,478,022.85. This represents a 19.40 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GPK has been the topic of several recent research reports. Royal Bank of Canada dropped their price objective on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup reissued a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, Truist Financial increased their price objective on shares of Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.37.

Graphic Packaging Stock Performance

Shares of GPK opened at $26.84 on Tuesday. The company has a 50-day moving average of $28.40 and a two-hundred day moving average of $28.53. Graphic Packaging Holding has a one year low of $23.47 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.73 and a quick ratio of 0.72. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 11.42 and a beta of 0.85.

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

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, January 5th. Investors of record on Sunday, December 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Friday, December 13th. Graphic Packaging’s payout ratio is currently 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.