State of New Jersey Common Pension Fund D Has $2.92 Million Holdings in Graphic Packaging Holding (NYSE:GPK)

State of New Jersey Common Pension Fund D cut its stake in Graphic Packaging Holding (NYSE:GPK) by 32.4% in the second quarter, Holdings Channel.com reports. The firm owned 111,325 shares of the industrial products company’s stock after selling 53,298 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Graphic Packaging were worth $2,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPK. Allspring Global Investments Holdings LLC boosted its stake in Graphic Packaging by 102.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,983,556 shares of the industrial products company’s stock worth $291,320,000 after purchasing an additional 5,055,359 shares during the period. Norges Bank acquired a new position in Graphic Packaging in the 4th quarter worth $100,387,000. L1 Capital International Pty Ltd acquired a new position in Graphic Packaging in the 4th quarter worth $16,039,000. Greenlight Capital Inc. boosted its stake in Graphic Packaging by 32.0% in the 4th quarter. Greenlight Capital Inc. now owns 2,536,100 shares of the industrial products company’s stock worth $62,515,000 after purchasing an additional 614,490 shares during the period. Finally, BlackBarn Capital Partners LP acquired a new position in shares of Graphic Packaging during the 4th quarter worth about $12,325,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Graphic Packaging

In other news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 approximately $59,555,816.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Graphic Packaging Stock Down 0.0 %

Graphic Packaging stock opened at $29.86 on Thursday. The stock has a market cap of $9.18 billion, a P/E ratio of 13.51, a P/E/G ratio of 5.12 and a beta of 0.83. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Graphic Packaging Holding has a twelve month low of $20.07 and a twelve month high of $30.66. The company’s 50-day moving average price is $28.69 and its two-hundred day moving average price is $27.90.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, analysts expect that Graphic Packaging Holding will post 2.66 EPS for the current year.

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. Graphic Packaging’s dividend payout ratio is presently 18.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GPK shares. Robert W. Baird increased their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Graphic Packaging in a research note on Wednesday, September 4th. StockNews.com upgraded shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $35.00 price objective (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. Finally, Citigroup reduced their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

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.