Ameriprise Financial Inc. Has $27.19 Million Stake in Graphic Packaging Holding (NYSE:GPK)

Ameriprise Financial Inc. trimmed its stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,001,053 shares of the industrial products company's stock after selling 100,793 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.33% of Graphic Packaging worth $27,194,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management lifted its position in shares of Graphic Packaging by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock worth $30,000 after buying an additional 394 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Graphic Packaging in the 4th quarter worth about $32,000. Avior Wealth Management LLC lifted its position in shares of Graphic Packaging by 2,484.0% in the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock worth $35,000 after buying an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Graphic Packaging by 92.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 689 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Graphic Packaging by 58.2% in the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 549 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Trading Down 0.1%

Shares of Graphic Packaging stock traded down $0.02 during trading on Monday, hitting $23.53. The stock had a trading volume of 1,678,212 shares, compared to its average volume of 2,519,074. Graphic Packaging Holding has a 1 year low of $20.86 and a 1 year high of $30.70. The stock has a 50 day simple moving average of $24.58 and a 200 day simple moving average of $26.67. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $7.10 billion, a PE ratio of 10.89, a P/E/G ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK - Get Free Report) last released 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). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging declared that its board has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 23.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

GPK has been the topic of several recent research reports. Robert W. Baird cut their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Truist Financial dropped their price target on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada dropped their price target on shares of Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Raymond James restated an "outperform" rating and set a $26.00 price target (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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

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.