Gotham Asset Management LLC Sells 115,390 Shares of Graphic Packaging Holding (NYSE:GPK)

Gotham Asset Management LLC trimmed its holdings in Graphic Packaging Holding (NYSE:GPK - Free Report) by 57.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,955 shares of the industrial products company's stock after selling 115,390 shares during the period. Gotham Asset Management LLC's holdings in Graphic Packaging were worth $2,335,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GPK. Ensign Peak Advisors Inc grew its stake in Graphic Packaging by 783.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,059,988 shares of the industrial products company's stock worth $28,789,000 after purchasing an additional 940,035 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Graphic Packaging in the 4th quarter worth approximately $387,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Graphic Packaging in the 4th quarter valued at approximately $229,000. Deutsche Bank AG raised its position in shares of Graphic Packaging by 24.3% during the 4th quarter. Deutsche Bank AG now owns 2,651,301 shares of the industrial products company's stock valued at $72,009,000 after acquiring an additional 518,280 shares in the last quarter. Finally, Eminence Capital LP lifted its stake in Graphic Packaging by 7.7% during the fourth quarter. Eminence Capital LP now owns 5,824,872 shares of the industrial products company's stock worth $158,204,000 after purchasing an additional 418,013 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Price Performance

NYSE GPK traded down $0.18 on Wednesday, reaching $23.09. 237,725 shares of the stock traded hands, compared to its average volume of 2,499,038. 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 cap of $6.97 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 2.10 and a beta of 0.81. The firm's fifty day simple moving average is $24.52 and its 200 day simple moving average is $26.65. Graphic Packaging Holding has a 12 month low of $20.86 and a 12 month high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last issued 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 business had revenue of $2.12 billion for 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 business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, research analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Royal Bank of Canada lowered their target price 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. Raymond James reissued an "outperform" rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Robert W. Baird reduced 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, Truist Financial cut their price target on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.