Bridgewater Advisors Inc. Reduces Stock Holdings in Graphic Packaging Holding (NYSE:GPK)

Bridgewater Advisors Inc. reduced its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,709 shares of the industrial products company’s stock after selling 996 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Graphic Packaging were worth $1,740,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Graphic Packaging by 24.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock valued at $437,945,000 after buying an additional 2,927,344 shares during the period. American Century Companies Inc. grew its stake in Graphic Packaging by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock valued at $317,549,000 after purchasing an additional 3,576,877 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Graphic Packaging by 7.9% during 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Graphic Packaging by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock valued at $158,693,000 after purchasing an additional 362,509 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in Graphic Packaging by 9.7% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,093,537 shares of the industrial products company’s stock valued at $81,082,000 after purchasing an additional 274,449 shares in the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Graphic Packaging Trading Up 3.1 %

NYSE:GPK opened at $29.04 on Thursday. Graphic Packaging Holding has a 12-month low of $21.25 and a 12-month high of $30.70. The firm has a market capitalization of $8.72 billion, a P/E ratio of 12.41, a P/E/G ratio of 10.81 and a beta of 0.83. 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 business has a 50 day simple moving average of $29.29 and a 200 day simple moving average of $28.22.

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 analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. 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 firm earned $0.74 EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities research analysts predict that Graphic Packaging Holding will post 2.52 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on GPK. Robert W. Baird raised their price objective on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lowered their price objective on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Truist Financial lowered Graphic Packaging from a “buy” rating to a “hold” rating and decreased their target price for the stock from $32.00 to $30.00 in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.53.

Insider Activity at Graphic Packaging

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction 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 of the company’s stock, valued at $53,296,266.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

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.