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

Graphic Packaging Holding (NYSE:GPK) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 21,050,000 shares, a growth of 20.6% from the February 13th total of 17,450,000 shares. Approximately 7.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,300,000 shares, the days-to-cover ratio is currently 9.2 days.

Graphic Packaging Stock Performance

Shares of GPK stock traded up $0.03 during trading on Tuesday, reaching $26.22. 2,742,609 shares of the company’s stock were exchanged, compared to its average volume of 2,319,404. Graphic Packaging has a twelve month low of $25.13 and a twelve month high of $30.70. The firm’s fifty day moving average price is $26.98 and its 200-day moving average price is $28.24. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $7.87 billion, a PE ratio of 12.14, a PEG ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.04). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. Graphic Packaging’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Graphic Packaging will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Stockholders of record on Saturday, March 15th will be given a $0.11 dividend. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.68%. Graphic Packaging’s dividend payout ratio is presently 20.37%.

Institutional Trading of Graphic Packaging

Several hedge funds have recently added to or reduced their stakes in the company. Synergy Asset Management LLC grew its stake in shares of Graphic Packaging by 108.6% in the fourth quarter. Synergy Asset Management LLC now owns 64,343 shares of the industrial products company’s stock valued at $1,810,000 after acquiring an additional 33,493 shares in the last quarter. Howard Capital Management Group LLC grew its position in shares of Graphic Packaging by 1.3% during the 4th quarter. Howard Capital Management Group LLC now owns 1,021,143 shares of the industrial products company’s stock worth $27,734,000 after purchasing an additional 13,175 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Graphic Packaging by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 10,610,233 shares of the industrial products company’s stock worth $313,957,000 after purchasing an additional 787,266 shares during the period. Hennessy Advisors Inc. bought a new position in shares of Graphic Packaging during the fourth quarter worth approximately $51,642,000. Finally, Advocate Group LLC raised its position in shares of Graphic Packaging by 14.5% in the fourth quarter. Advocate Group LLC now owns 226,399 shares of the industrial products company’s stock valued at $6,149,000 after buying an additional 28,703 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Robert W. Baird decreased their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Truist Financial raised their price target on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Citigroup reiterated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $24.00 to $27.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.70.

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.