Brevan Howard Capital Management LP Purchases 97,131 Shares of Graphic Packaging Holding Company $GPK

Brevan Howard Capital Management LP grew its position in shares of Graphic Packaging Holding Company (NYSE:GPK) by 171.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,808 shares of the industrial products company’s stock after buying an additional 97,131 shares during the period. Brevan Howard Capital Management LP owned approximately 0.05% of Graphic Packaging worth $3,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bridgefront Capital LLC bought a new position in Graphic Packaging during the third quarter worth about $566,000. California Public Employees Retirement System boosted its holdings in Graphic Packaging by 21.0% in the 3rd quarter. California Public Employees Retirement System now owns 525,930 shares of the industrial products company’s stock valued at $10,292,000 after purchasing an additional 91,369 shares during the period. Bank of America Corp DE boosted its holdings in Graphic Packaging by 18.3% in the 3rd quarter. Bank of America Corp DE now owns 3,637,081 shares of the industrial products company’s stock valued at $71,178,000 after purchasing an additional 563,508 shares during the period. Bank of Nova Scotia grew its position in shares of Graphic Packaging by 6.3% during the 3rd quarter. Bank of Nova Scotia now owns 18,029 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Graphic Packaging during the third quarter worth approximately $393,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Analysts Set New Price Targets

GPK has been the subject of a number of analyst reports. Robert W. Baird set a $15.00 price target on shares of Graphic Packaging in a research report on Wednesday, February 4th. Zacks Research lowered Graphic Packaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. UBS Group dropped their price objective on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Royal Bank Of Canada set a $13.00 target price on Graphic Packaging in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a research report on Monday, December 29th. Eight investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Graphic Packaging currently has a consensus rating of “Reduce” and a consensus target price of $16.63.

Graphic Packaging Stock Performance

NYSE GPK opened at $9.91 on Tuesday. The firm’s 50 day simple moving average is $13.25 and its 200 day simple moving average is $15.92. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 6.69 and a beta of 0.65. The company has a current ratio of 1.30, a quick ratio of 0.52 and a debt-to-equity ratio of 1.50. Graphic Packaging Holding Company has a 1 year low of $9.57 and a 1 year high of $26.40.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.24 EPS for the quarter. The business had revenue of $2.10 billion during the quarter. Graphic Packaging had a net margin of 5.15% and a return on equity of 16.58%. As a group, research analysts expect that Graphic Packaging Holding Company will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Sunday, March 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, March 13th. Graphic Packaging’s dividend payout ratio is currently 29.73%.

Insiders Place Their Bets

In other Graphic Packaging news, CEO Robbert Rietbroek acquired 44,278 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average cost of $11.32 per share, with a total value of $501,226.96. Following the completion of the purchase, the chief executive officer directly owned 44,278 shares of the company’s stock, valued at $501,226.96. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is owned by company insiders.

Graphic Packaging Company Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.