Riverhead Capital Management LLC Has $4.22 Million Holdings in Graphic Packaging Holding (GPK)
Riverhead Capital Management LLC decreased its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 8.4% during the second quarter, HoldingsChannel.com reports. The fund owned 290,550 shares of the industrial products company’s stock after selling 26,740 shares during the quarter. Riverhead Capital Management LLC’s holdings in Graphic Packaging were worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Dalton Greiner Hartman Maher & Co. bought a new stake in Graphic Packaging during the 2nd quarter valued at $487,000. Xact Kapitalforvaltning AB raised its holdings in Graphic Packaging by 14.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 42,152 shares of the industrial products company’s stock valued at $612,000 after acquiring an additional 5,200 shares during the period. American Century Companies Inc. raised its holdings in Graphic Packaging by 1.0% during the 1st quarter. American Century Companies Inc. now owns 15,253,501 shares of the industrial products company’s stock valued at $234,141,000 after acquiring an additional 151,999 shares during the period. JPMorgan Chase & Co. raised its holdings in Graphic Packaging by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 7,573,776 shares of the industrial products company’s stock valued at $116,258,000 after acquiring an additional 401,881 shares during the period. Finally, First Pacific Advisors LLC raised its holdings in Graphic Packaging by 73.1% during the 1st quarter. First Pacific Advisors LLC now owns 802,407 shares of the industrial products company’s stock valued at $12,317,000 after acquiring an additional 338,812 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Graphic Packaging in a report on Friday, May 18th. They set a “buy” rating and a $20.00 target price on the stock. TheStreet cut shares of Graphic Packaging from a “b” rating to a “c+” rating in a report on Monday, May 7th. Zacks Investment Research raised shares of Graphic Packaging from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. ValuEngine lowered shares of Graphic Packaging from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. Finally, Bank of America reduced their price target on shares of Graphic Packaging from $17.00 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Graphic Packaging presently has an average rating of “Buy” and a consensus price target of $17.94.
Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Graphic Packaging had a net margin of 5.74% and a return on equity of 13.05%. The firm’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. sell-side analysts forecast that Graphic Packaging Holding will post 0.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Saturday, September 15th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. Graphic Packaging’s dividend payout ratio (DPR) is currently 47.62%.
Graphic Packaging Company Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK) and coated recycled paperboard (CRB) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons primarily to consumer packaged goods companies.
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