Graphic Packaging Holding (NYSE:GPK) Sees Significant Decrease in Short Interest

Graphic Packaging Holding (NYSE:GPK) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 12,960,000 shares, a decrease of 6.2% from the March 15th total of 13,810,000 shares. Based on an average trading volume of 2,910,000 shares, the days-to-cover ratio is presently 4.5 days.

Graphic Packaging Price Performance

NYSE GPK traded down $0.15 on Wednesday, reaching $27.42. The company’s stock had a trading volume of 1,959,925 shares, compared to its average volume of 2,408,568. The firm has a market cap of $8.43 billion, a PE ratio of 11.67 and a beta of 0.84. The business has a 50-day moving average price of $27.03 and a 200 day moving average price of $24.64. Graphic Packaging has a 52 week low of $20.07 and a 52 week high of $29.50. The company has a current ratio of 1.10, a quick ratio of 0.42 and a debt-to-equity ratio of 1.66.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Graphic Packaging had a net margin of 7.67% and a return on equity of 35.66%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. Sell-side analysts expect that Graphic Packaging will post 2.71 EPS for the current year.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. Graphic Packaging’s payout ratio is 17.02%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company reissued an “underweight” rating and set a $21.00 price target on shares of Graphic Packaging in a research note on Monday, April 1st. Robert W. Baird raised their price objective on Graphic Packaging from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, Citigroup lifted their price target on Graphic Packaging from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Graphic Packaging currently has a consensus rating of “Hold” and an average target price of $28.44.

Insider Transactions at Graphic Packaging

In other Graphic Packaging news, EVP Joseph P. Yost sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the completion of the sale, the executive vice president now directly owns 205,231 shares of the company’s stock, valued at approximately $5,377,052.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

A number of hedge funds and other institutional investors have recently made changes to their positions in GPK. Advisory Services Network LLC increased its stake in shares of Graphic Packaging by 13.6% during the 1st quarter. Advisory Services Network LLC now owns 3,600 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 431 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Graphic Packaging by 5.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 8,420 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 436 shares during the period. O Shaughnessy Asset Management LLC increased its position in Graphic Packaging by 4.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,648 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 483 shares in the last quarter. DAVENPORT & Co LLC increased its position in Graphic Packaging by 3.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 14,391 shares of the industrial products company’s stock worth $321,000 after purchasing an additional 500 shares in the last quarter. Finally, Clear Harbor Asset Management LLC increased its position in Graphic Packaging by 1.5% during the 4th quarter. Clear Harbor Asset Management LLC now owns 33,310 shares of the industrial products company’s stock worth $821,000 after purchasing an additional 506 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.