Harbor Capital Advisors Inc. Raises Stake in Graphic Packaging Holding (NYSE:GPK)

Harbor Capital Advisors Inc. lifted its position in shares of Graphic Packaging Holding (NYSE:GPK) by 74.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 500,312 shares of the industrial products company’s stock after buying an additional 213,686 shares during the period. Graphic Packaging accounts for approximately 0.6% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 18th largest holding. Harbor Capital Advisors Inc. owned approximately 0.16% of Graphic Packaging worth $14,804,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GPK. American Century Companies Inc. increased its stake in shares of Graphic Packaging by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock valued at $317,549,000 after acquiring an additional 3,576,877 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Graphic Packaging by 24.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock worth $437,945,000 after purchasing an additional 2,927,344 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Graphic Packaging by 7.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after purchasing an additional 706,486 shares during the period. Sei Investments Co. boosted its holdings in shares of Graphic Packaging by 33.2% in the 2nd quarter. Sei Investments Co. now owns 1,719,878 shares of the industrial products company’s stock valued at $45,078,000 after purchasing an additional 428,278 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Graphic Packaging by 171.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 603,023 shares of the industrial products company’s stock valued at $17,631,000 after buying an additional 381,112 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Stock Up 0.1 %

NYSE GPK opened at $28.28 on Friday. The stock has a market cap of $8.49 billion, a PE ratio of 12.09, a P/E/G ratio of 10.99 and a beta of 0.83. The business has a 50 day moving average price of $29.37 and a two-hundred day moving average price of $28.20. Graphic Packaging Holding has a fifty-two week low of $21.25 and a fifty-two week high of $30.70. The company has a quick ratio of 0.58, 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business posted $0.74 earnings per share. Graphic Packaging’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Graphic Packaging Holding will post 2.52 EPS for the current fiscal year.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced 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. Stifel Nicolaus initiated coverage on Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective on the stock. Wells Fargo & Company increased their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Truist Financial cut shares of Graphic Packaging from a “buy” rating to a “hold” rating and reduced their price target for the company from $32.00 to $30.00 in a research report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Graphic Packaging has an average rating of “Hold” and an average target price of $31.53.

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.