Short Interest in Graphic Packaging Holding (NYSE:GPK) Declines By 6.8%

Graphic Packaging Holding (NYSE:GPK) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 18,780,000 shares, a decrease of 6.8% from the December 15th total of 20,160,000 shares. Based on an average daily volume of 2,370,000 shares, the short-interest ratio is currently 7.9 days.

Graphic Packaging Stock Performance

NYSE:GPK traded up $0.34 during mid-day trading on Friday, reaching $27.99. 2,789,618 shares of the stock were exchanged, compared to its average volume of 1,720,368. The stock has a market capitalization of $8.40 billion, a P/E ratio of 11.96, a P/E/G ratio of 9.62 and a beta of 0.85. Graphic Packaging has a 1 year low of $23.47 and a 1 year high of $30.70. The company has a 50 day simple moving average of $28.29 and a 200-day simple moving average of $28.55. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. Analysts anticipate that Graphic Packaging will post 2.53 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th were paid a $0.10 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. Graphic Packaging’s dividend payout ratio (DPR) is currently 17.09%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial boosted their price target on shares of Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Royal Bank of Canada dropped their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Citigroup reiterated a “neutral” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Finally, StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.37.

Insider Activity

In other news, EVP Michael James Farrell sold 25,900 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total transaction of $750,841.00. Following the sale, the executive vice president now owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. This represents a 24.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Charles D. Lischer sold 12,000 shares of Graphic Packaging stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.65, for a total transaction of $355,800.00. Following the completion of the transaction, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at $1,478,022.85. This trade represents a 19.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Graphic Packaging

Several hedge funds have recently modified their holdings of GPK. FMR LLC lifted its stake in shares of Graphic Packaging by 12.6% in the 3rd quarter. FMR LLC now owns 20,460,161 shares of the industrial products company’s stock worth $605,416,000 after acquiring an additional 2,294,688 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Graphic Packaging by 24.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock valued at $437,945,000 after buying an additional 2,927,344 shares in the last quarter. JPMorgan Chase & Co. raised its position in Graphic Packaging by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after acquiring an additional 787,266 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Graphic Packaging by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock worth $158,693,000 after purchasing an additional 362,509 shares in the last quarter. Finally, Premier Fund Managers Ltd grew its stake in shares of Graphic Packaging by 9.6% during the 3rd quarter. Premier Fund Managers Ltd now owns 3,441,614 shares of the industrial products company’s stock worth $101,545,000 after purchasing an additional 302,680 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

About Graphic Packaging

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.