Graphic Packaging Holding (NYSE:GPK) Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC lifted its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 101.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,536 shares of the industrial products company’s stock after purchasing an additional 15,408 shares during the quarter. NorthRock Partners LLC’s holdings in Graphic Packaging were worth $829,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in shares of Graphic Packaging by 920.6% during the 4th quarter. Alliancebernstein L.P. now owns 4,176,187 shares of the industrial products company’s stock valued at $113,425,000 after acquiring an additional 3,767,011 shares during the last quarter. Norges Bank bought a new stake in shares of Graphic Packaging in the 4th quarter valued at approximately $98,268,000. Marshall Wace LLP grew its position in Graphic Packaging by 735.3% in the fourth quarter. Marshall Wace LLP now owns 2,446,843 shares of the industrial products company’s stock worth $66,456,000 after acquiring an additional 2,153,925 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Graphic Packaging during the fourth quarter valued at about $51,642,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Graphic Packaging by 11.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,503,189 shares of the industrial products company’s stock worth $441,990,000 after purchasing an additional 1,702,764 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock opened at $23.31 on Friday. The company has a 50 day moving average of $24.72 and a 200-day moving average of $26.76. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. Graphic Packaging Holding has a 1-year low of $20.86 and a 1-year high of $30.70. The company has a market cap of $7.03 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last released 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). Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the company earned $0.66 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Graphic Packaging Holding will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 23.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. 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. Raymond James reaffirmed an “outperform” rating and set a $26.00 price objective (down from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. Truist Financial decreased their target price on Graphic Packaging from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Finally, Robert W. Baird lowered their price target on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. 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 MarketBeat, Graphic Packaging currently has a consensus rating of “Moderate Buy” and a consensus price target 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.