Game Creek Capital LP Reduces Holdings in Graphic Packaging Holding (NYSE:GPK)

Game Creek Capital LP reduced its stake in Graphic Packaging Holding (NYSE:GPK - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,000 shares of the industrial products company's stock after selling 20,000 shares during the period. Game Creek Capital LP's holdings in Graphic Packaging were worth $1,358,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Synergy Asset Management LLC raised its position in shares of Graphic Packaging by 108.6% during the 4th quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company's stock valued at $1,810,000 after buying an additional 33,493 shares in the last quarter. Howard Capital Management Group LLC raised its position 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 valued at $27,734,000 after purchasing an additional 13,175 shares during the period. JPMorgan Chase & Co. raised its position 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 valued at $313,957,000 after purchasing an additional 787,266 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Graphic Packaging by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 194,467 shares of the industrial products company's stock valued at $5,282,000 after purchasing an additional 608 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Graphic Packaging in the 4th quarter worth approximately $51,642,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Graphic Packaging Trading Up 0.6%

Shares of NYSE GPK traded up $0.13 during mid-day trading on Tuesday, reaching $23.19. The company had a trading volume of 236,363 shares, compared to its average volume of 2,487,325. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The business's 50-day moving average is $24.96 and its 200-day moving average is $26.86. Graphic Packaging Holding has a 52 week low of $20.86 and a 52 week high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly 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 firm had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.14 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging declared that its board has approved a share repurchase plan 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 buy up to 23.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

GPK has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on shares of Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Truist Financial lowered their target price on shares of Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Raymond James reiterated an "outperform" rating and set a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Finally, Robert W. Baird reduced 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.