Ashton Thomas Private Wealth LLC Trims Position in Graphic Packaging Holding (NYSE:GPK)

Ashton Thomas Private Wealth LLC decreased its position in shares of Graphic Packaging Holding (NYSE:GPK) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,601 shares of the industrial products company’s stock after selling 9,587 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Graphic Packaging were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Graphic Packaging in the 1st quarter valued at about $26,000. Principal Securities Inc. acquired a new position in Graphic Packaging in the fourth quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A purchased a new position in Graphic Packaging in the fourth quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in Graphic Packaging during the first quarter worth $38,000. Finally, GAMMA Investing LLC raised its position in Graphic Packaging by 46.3% in the second quarter. GAMMA Investing LLC now owns 2,744 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 868 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Graphic Packaging Price Performance

Graphic Packaging stock opened at $29.28 on Tuesday. 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 52-week low of $20.07 and a 52-week high of $30.66. The firm has a market cap of $8.79 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 5.13 and a beta of 0.83. The company’s 50 day moving average is $28.13 and its two-hundred day moving average is $27.73.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business 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 company’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, research analysts expect that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s dividend payout ratio is presently 18.10%.

Insider Buying and Selling

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the business’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 completion of the transaction, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the sale, the chief executive officer now directly owns 1,909,576 shares in the company, valued at $53,296,266.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Graphic Packaging from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus began coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. 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 research note on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and set a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Graphic Packaging in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.15.

Graphic Packaging Company 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.