Lighthouse Investment Partners LLC Cuts Holdings in Graphic Packaging Holding (NYSE:GPK)

Lighthouse Investment Partners LLC decreased its position in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 76.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GPK. Picton Mahoney Asset Management lifted its holdings in shares of 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 valued at $30,000 after purchasing an additional 394 shares during the last quarter. Crews Bank & Trust acquired a new position in Graphic Packaging during the 4th quarter valued at about $32,000. Avior Wealth Management LLC raised its stake in Graphic Packaging by 2,484.0% in the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company's stock valued at $35,000 after buying an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Graphic Packaging by 92.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after acquiring an additional 689 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Graphic Packaging by 58.2% during the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company's stock worth $41,000 after acquiring an additional 549 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

NYSE:GPK traded down $0.11 during mid-day trading on Monday, hitting $23.44. The company's stock had a trading volume of 330,424 shares, compared to its average volume of 2,513,832. The business's fifty day moving average is $24.64 and its two-hundred day moving average is $26.71. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 2.10 and a beta of 0.81. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. 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 issued its quarterly earnings data 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). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates 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 period last year, the firm earned $0.66 EPS. Analysts anticipate 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 share repurchase program on Thursday, May 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 23.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

GPK has been the topic of several research analyst reports. Raymond James reissued an "outperform" rating and set a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Robert W. Baird dropped 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. Royal Bank of Canada reduced their target price on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Truist Financial cut their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.