CENTRAL TRUST Co Sells 1,300 Shares of Graphic Packaging Holding (NYSE:GPK)

CENTRAL TRUST Co lessened its holdings in Graphic Packaging Holding (NYSE:GPK) by 19.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,355 shares of the industrial products company’s stock after selling 1,300 shares during the period. CENTRAL TRUST Co’s holdings in Graphic Packaging were worth $158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GPK. 1832 Asset Management L.P. lifted its stake in shares of 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 lifted its position in Graphic Packaging by 2.4% during the second quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock worth $458,000 after acquiring an additional 402 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Graphic Packaging by 0.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock worth $1,422,000 after acquiring an additional 406 shares during the period. Fiduciary Family Office LLC grew its position in shares of Graphic Packaging by 2.6% in the second quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 423 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of Graphic Packaging by 1.2% during the second quarter. Benjamin Edwards Inc. now owns 42,857 shares of the industrial products company’s stock worth $1,123,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insider Activity at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the sale, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock opened at $29.66 on Monday. The company has a 50 day moving average of $29.37 and a 200-day moving average of $28.16. The company has a market cap of $8.90 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 10.94 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. Graphic Packaging Holding has a 1-year low of $20.69 and a 1-year high of $30.66.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Graphic Packaging Holding will post 2.65 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.35%. Graphic Packaging’s payout ratio is currently 17.09%.

Analysts Set New Price Targets

A number of brokerages have commented on GPK. Stifel Nicolaus assumed coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective on the stock. Wells Fargo & Company raised their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada cut their price objective 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. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Truist Financial cut their price target on Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.87.

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.