Ameriprise Financial Inc. Has $27.19 Million Stake in Graphic Packaging Holding (NYSE:GPK)

Ameriprise Financial Inc. lowered its position in Graphic Packaging Holding (NYSE:GPK) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,001,053 shares of the industrial products company’s stock after selling 100,793 shares during the period. Ameriprise Financial Inc. owned 0.33% of Graphic Packaging worth $27,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management raised its position in Graphic Packaging by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 394 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Graphic Packaging during the fourth quarter worth $32,000. Avior Wealth Management LLC lifted its stake in shares of Graphic Packaging by 2,484.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 1,242 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Graphic Packaging by 92.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 689 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 549 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.

Graphic Packaging Price Performance

Shares of NYSE:GPK opened at $23.27 on Wednesday. The firm has a 50 day moving average of $24.89 and a 200-day moving average of $26.84. Graphic Packaging Holding has a 12 month low of $20.86 and a 12 month high of $30.70. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $7.02 billion, a PE ratio of 10.77, a PEG ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.14 billion. Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. Graphic Packaging’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. On average, equities research analysts predict that Graphic Packaging Holding will post 2.47 EPS for the current fiscal year.

Graphic Packaging announced that its board has authorized a share repurchase 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 repurchase up to 23.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

GPK has been the topic of a number of research reports. Raymond James restated an “outperform” rating and set a $26.00 target price (down from $30.00) on shares of Graphic Packaging in a research report on Friday, May 2nd. Robert W. Baird reduced their price objective on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada lowered their target price on shares of Graphic Packaging from $32.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Truist Financial cut their price target on Graphic Packaging from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.