Shapiro Capital Management LLC Reduces Stake in Graphic Packaging Holding (NYSE:GPK)

Shapiro Capital Management LLC trimmed its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 8.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,088,761 shares of the industrial products company's stock after selling 475,496 shares during the period. Graphic Packaging accounts for approximately 4.7% of Shapiro Capital Management LLC's holdings, making the stock its 3rd largest holding. Shapiro Capital Management LLC owned approximately 1.70% of Graphic Packaging worth $138,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Graphic Packaging by 8.8% in the 3rd quarter. Barclays PLC now owns 637,199 shares of the industrial products company's stock valued at $18,854,000 after buying an additional 51,451 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Graphic Packaging by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company's stock valued at $313,957,000 after buying an additional 787,266 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at $51,642,000. Avanza Fonder AB acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at $190,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at $216,000. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GPK. Royal Bank of Canada reduced their price target on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Truist Financial reduced their price target on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird reduced their price target on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Finally, Raymond James restated an "outperform" rating and issued a $26.00 price target (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Graphic Packaging Stock Down 0.1%

Shares of Graphic Packaging stock traded down $0.02 during trading on Monday, reaching $23.53. The stock had a trading volume of 1,678,212 shares, compared to its average volume of 2,519,074. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 2.10 and a beta of 0.81. The stock has a fifty day moving average price of $24.58 and a two-hundred day moving average price of $26.67. Graphic Packaging Holding has a 52 week low of $20.86 and a 52 week high of $30.70. 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 issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 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 the consensus estimate of $2.14 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Sell-side analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

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

Graphic Packaging 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.