Graphic Packaging Holding (NYSE:GPK) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 783.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,059,988 shares of the industrial products company's stock after acquiring an additional 940,035 shares during the quarter. Ensign Peak Advisors Inc owned about 0.35% of Graphic Packaging worth $28,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC boosted its position in Graphic Packaging by 108.6% during the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company's stock worth $1,810,000 after acquiring an additional 33,493 shares during the last quarter. Howard Capital Management Group LLC raised its stake in Graphic Packaging by 1.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company's stock worth $27,734,000 after purchasing an additional 13,175 shares during the period. JPMorgan Chase & Co. raised its stake in Graphic Packaging by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock worth $313,957,000 after purchasing an additional 787,266 shares during the period. Wells Fargo & Company MN raised its stake in Graphic Packaging by 0.3% during the fourth quarter. Wells Fargo & Company MN now owns 194,467 shares of the industrial products company's stock worth $5,282,000 after purchasing an additional 608 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in Graphic Packaging during the fourth quarter worth about $51,642,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Down 0.7%

GPK traded down $0.17 during trading hours on Wednesday, hitting $23.08. 3,964,991 shares of the company's stock were exchanged, compared to its average volume of 2,509,506. Graphic Packaging Holding has a 12-month low of $20.86 and a 12-month high of $30.70. The firm has a 50 day moving average of $24.80 and a 200 day moving average of $26.81. The firm has a market cap of $6.96 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm earned $0.66 EPS. The company's revenue was down 6.2% on a year-over-year basis. Analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its board has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on GPK. Royal Bank of Canada reduced their target price on shares of Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Raymond James reissued 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 reduced 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 note on Tuesday, April 22nd. Finally, Robert W. Baird reduced their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Graphic Packaging currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Graphic Packaging Company 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.