Graphic Packaging Holding (NYSE:GPK) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC reduced its holdings in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 76.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,789 shares of the industrial products company's stock after selling 183,753 shares during the period. Lighthouse Investment Partners LLC's holdings in Graphic Packaging were worth $1,542,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in Graphic Packaging by 55.4% during the 4th 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 in the last quarter. Crews Bank & Trust acquired a new stake in Graphic Packaging during the 4th quarter worth approximately $32,000. Avior Wealth Management LLC lifted its holdings in Graphic Packaging by 2,484.0% during the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock worth $35,000 after buying an additional 1,242 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after buying an additional 689 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Graphic Packaging by 58.2% during the 4th quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock worth $41,000 after buying an additional 549 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPK has been the topic of a number of analyst reports. 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 report on Wednesday, February 5th. Raymond James restated an "outperform" rating and issued a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Royal Bank of Canada dropped their target price on shares of Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Truist Financial dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Graphic Packaging Trading Up 1.0%

Graphic Packaging stock traded up $0.24 during trading on Friday, reaching $23.56. The company had a trading volume of 2,657,549 shares, compared to its average volume of 2,518,059. Graphic Packaging Holding has a 12-month low of $20.86 and a 12-month high of $30.70. The stock's 50 day moving average price is $24.64 and its two-hundred day moving average price is $26.73. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 2.10 and a beta of 0.81. 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 (NYSE:GPK - Get Free Report) last released its 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). 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 analysts' expectations of $2.14 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Graphic Packaging's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

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