Teza Capital Management LLC Makes New $657,000 Investment in Graphic Packaging Holding (NYSE:GPK)

Teza Capital Management LLC purchased a new stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,204 shares of the industrial products company's stock, valued at approximately $657,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPK. Alliancebernstein L.P. boosted its position in Graphic Packaging by 920.6% during the 4th quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company's stock worth $113,425,000 after buying an additional 3,767,011 shares during the period. Norges Bank bought a new position in shares of Graphic Packaging during the fourth quarter valued at $98,268,000. Marshall Wace LLP lifted its holdings in shares of Graphic Packaging by 735.3% during the fourth quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company's stock worth $66,456,000 after purchasing an additional 2,153,925 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Graphic Packaging by 11.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company's stock worth $441,990,000 after purchasing an additional 1,702,764 shares during the last quarter. Finally, Boston Trust Walden Corp acquired a new stake in Graphic Packaging in the fourth quarter valued at $34,131,000. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Price Performance

Shares of NYSE GPK opened at $23.53 on Tuesday. The firm has a market capitalization of $7.10 billion, a P/E ratio of 10.89, a P/E/G ratio of 2.10 and a beta of 0.81. The firm's 50-day moving average price is $24.58 and its 200-day moving average price is $26.67. 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 Holding has a 1-year low of $20.86 and a 1-year high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted 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). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. 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 of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GPK shares. Royal Bank of Canada reduced their target price 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 price objective 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. Robert W. Baird lowered their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Raymond James reaffirmed an "outperform" rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.

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