Graphic Packaging Holding (NYSE:GPK) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in Graphic Packaging Holding (NYSE:GPK) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,547,844 shares of the industrial products company’s stock after selling 141,931 shares during the period. Bank of America Corp DE’s holdings in Graphic Packaging were worth $96,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Picton Mahoney Asset Management grew its stake in shares of Graphic Packaging by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 394 shares in the last quarter. 1620 Investment Advisors Inc. lifted its position in shares of Graphic Packaging by 3.8% during the 4th quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 413 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Graphic Packaging by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 477 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Graphic Packaging by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 486 shares during the last quarter. Finally, Keynote Financial Services LLC lifted its position in shares of Graphic Packaging by 6.9% during the 4th quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Price Performance

Shares of GPK opened at $22.31 on Monday. Graphic Packaging Holding has a 1-year low of $20.86 and a 1-year high of $30.70. The stock has a market cap of $6.73 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The firm has a fifty day moving average price of $25.03 and a 200 day moving average price of $26.91.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the firm earned $0.66 earnings per share. Graphic Packaging’s revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 23.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Royal Bank of Canada decreased their price objective on shares of Graphic Packaging from $32.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Robert W. Baird decreased their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial decreased their price objective on shares of Graphic Packaging from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Graphic Packaging has an average rating of “Moderate Buy” and an average price target of $29.17.

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.