Graphic Packaging Holding (NYSE:GPK) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 349,710 shares of the industrial products company’s stock after selling 12,687 shares during the quarter. Logan Capital Management Inc. owned about 0.12% of Graphic Packaging worth $9,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in Graphic Packaging by 8.8% in the 3rd quarter. Barclays PLC now owns 637,199 shares of the industrial products company’s stock valued at $18,854,000 after buying an additional 51,451 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Graphic Packaging by 28.0% in the 3rd quarter. Franklin Resources Inc. now owns 408,831 shares of the industrial products company’s stock worth $12,069,000 after acquiring an additional 89,339 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 787,266 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Graphic Packaging during the fourth quarter worth about $51,642,000. Finally, Avanza Fonder AB purchased a new position in Graphic Packaging during the fourth quarter worth about $190,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPK has been the topic of a number of analyst reports. Robert W. Baird lowered their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada dropped 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. Truist Financial reduced their target price on Graphic Packaging from $30.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James restated an “outperform” rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Graphic Packaging Stock Performance

Shares of GPK stock opened at $22.31 on Monday. Graphic Packaging Holding has a 12 month low of $20.86 and a 12 month high of $30.70. The company’s fifty day moving average price is $25.03 and its two-hundred day moving average price is $26.91. 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 $6.73 billion, a P/E ratio of 10.33, a P/E/G ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last posted its earnings results 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). The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.14 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. On average, research analysts anticipate that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the industrial products company to buy up to 23.3% of its shares through open market purchases. Shares repurchase plans are generally an indication 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.