Northern Trust Corp Grows Stake in Graphic Packaging Holding (NYSE:GPK)

Northern Trust Corp raised its stake in shares of Graphic Packaging Holding (NYSE:GPK - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,668,352 shares of the industrial products company's stock after purchasing an additional 507,065 shares during the period. Northern Trust Corp owned 0.89% of Graphic Packaging worth $72,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management raised 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 valued at $30,000 after buying an additional 394 shares during the period. 1620 Investment Advisors Inc. raised its stake 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 acquiring an additional 413 shares during the period. CIBC Asset Management Inc lifted 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 worth $251,000 after acquiring an additional 477 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Graphic Packaging by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 24,606 shares of the industrial products company's stock worth $692,000 after purchasing an additional 486 shares during the period. Finally, Keynote Financial Services LLC grew its holdings 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 purchasing an additional 492 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GPK has been the subject of several analyst reports. Raymond James reissued an "outperform" rating and issued a $26.00 price objective (down previously from $30.00) on shares of Graphic Packaging in a research note on Friday. Royal Bank of Canada dropped their price objective on Graphic Packaging from $32.00 to $26.00 and set an "outperform" rating for the company in a report on Friday. Truist Financial decreased their target price 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. Wells Fargo & Company upgraded shares of Graphic Packaging from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Finally, Citigroup reiterated a "neutral" rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Graphic Packaging presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Graphic Packaging Stock Up 1.5 %

Shares of Graphic Packaging stock opened at $22.13 on Tuesday. Graphic Packaging Holding has a 1 year low of $20.86 and a 1 year high of $30.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.46 and a quick ratio of 0.54. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.10 and a beta of 0.81. The firm's 50-day moving average is $25.35 and its two-hundred day moving average is $27.12.

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 business had revenue of $2.12 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business earned $0.66 earnings per share. As a group, research analysts expect that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.

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