Graphic Packaging Holding (NYSE:GPK) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 14.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 272,934 shares of the industrial products company's stock after selling 47,068 shares during the period. Lazard Asset Management LLC owned approximately 0.09% of Graphic Packaging worth $7,412,000 at the end of the most recent quarter.

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

Graphic Packaging Price Performance

Shares of NYSE:GPK traded down $0.10 during midday trading on Tuesday, reaching $23.43. 387,927 shares of the company's stock traded hands, compared to its average volume of 2,510,860. The company has a market cap of $7.07 billion, a P/E ratio of 10.83, a PEG ratio of 2.10 and a beta of 0.81. The company has a fifty day simple moving average of $24.58 and a two-hundred day simple moving average of $26.67. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. 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 announced its earnings results on Thursday, May 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business earned $0.66 EPS. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. Equities analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its Board of Directors has approved a stock buyback program on Thursday, May 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the industrial products company to purchase 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 shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada cut 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 for the company in a research report on Tuesday, April 22nd. Raymond James reaffirmed an "outperform" rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Finally, Robert W. Baird lowered their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging has an average rating of "Moderate Buy" and an average price target 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.