Graphic Packaging Holding (NYSE:GPK) Holdings Lowered by Shapiro Capital Management LLC

Shapiro Capital Management LLC trimmed its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 8.5% during the 4th quarter, Holdings Channel reports. The fund owned 5,088,761 shares of the industrial products company’s stock after selling 475,496 shares during the quarter. Graphic Packaging makes up about 4.7% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Shapiro Capital Management LLC’s holdings in Graphic Packaging were worth $138,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GPK. Barclays PLC boosted its stake in shares of Graphic Packaging by 8.8% during the 3rd quarter. Barclays PLC now owns 637,199 shares of the industrial products company’s stock worth $18,854,000 after acquiring an additional 51,451 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Graphic Packaging by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock valued at $313,957,000 after purchasing an additional 787,266 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Graphic Packaging in the fourth quarter valued at approximately $51,642,000. Avanza Fonder AB acquired a new position in shares of Graphic Packaging during the 4th quarter worth approximately $190,000. Finally, Merit Financial Group LLC purchased a new position in shares of Graphic Packaging during the 4th quarter valued at approximately $216,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Graphic Packaging Price Performance

GPK stock opened at $23.31 on Friday. Graphic Packaging Holding has a 1 year low of $20.86 and a 1 year high of $30.70. 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 market capitalization of $7.03 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The business has a 50 day simple moving average of $24.72 and a 200-day simple moving average of $26.76.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) 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 firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal 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 a sign that the company’s board believes its stock is undervalued.

About Graphic Packaging

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.