Shapiro Capital Management LLC Sells 475,496 Shares of Graphic Packaging Holding (NYSE:GPK)

Shapiro Capital Management LLC reduced its stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,088,761 shares of the industrial products company's stock after selling 475,496 shares during the quarter. Graphic Packaging accounts for 4.7% of Shapiro Capital Management LLC's holdings, making the stock its 3rd largest position. Shapiro Capital Management LLC owned approximately 1.70% of Graphic Packaging worth $138,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in GPK. Picton Mahoney Asset Management increased its stake in shares of Graphic Packaging by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock worth $30,000 after buying an additional 394 shares during the period. 1620 Investment Advisors Inc. raised its holdings in shares of Graphic Packaging by 3.8% in the fourth quarter. 1620 Investment Advisors Inc. now owns 11,163 shares of the industrial products company's stock valued at $303,000 after buying an additional 413 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Graphic Packaging by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,231 shares of the industrial products company's stock worth $251,000 after buying an additional 477 shares during the period. Sanctuary Advisors LLC increased its position in Graphic Packaging by 2.0% in the 4th quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company's stock valued at $692,000 after acquiring an additional 486 shares during the period. Finally, Keynote Financial Services LLC raised its stake in Graphic Packaging by 6.9% during the 4th quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company's stock valued at $207,000 after acquiring an additional 492 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPK has been the subject of a number of analyst reports. Royal Bank of Canada cut 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 report on Friday, May 2nd. Truist Financial decreased 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 report on Tuesday, April 22nd. Robert W. Baird reduced their target price on Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Raymond James reiterated an "outperform" rating and set a $26.00 price objective (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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.17.

Graphic Packaging Trading Down 1.3%

Shares of GPK stock traded down $0.30 during trading hours on Wednesday, hitting $22.97. 832,116 shares of the company were exchanged, compared to its average volume of 2,501,407. Graphic Packaging Holding has a 1 year low of $20.86 and a 1 year high of $30.70. The firm has a fifty day moving average of $24.52 and a 200 day moving average of $26.65. The firm has a market cap of $6.93 billion, a PE ratio of 10.63, a PEG ratio of 2.10 and a beta of 0.81. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 earnings per share 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 company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company earned $0.66 EPS. The business's revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current year.

Graphic Packaging declared that its Board of Directors has approved a share buyback plan 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 repurchase up to 23.3% of its shares through open market purchases. Shares buyback plans 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.