Graphic Packaging Holding Company $GPK Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Graphic Packaging Holding Company (NYSE:GPK) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,345,363 shares of the industrial products company’s stock after selling 83,056 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Graphic Packaging were worth $21,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CenterBook Partners LP grew its stake in Graphic Packaging by 45.3% in the third quarter. CenterBook Partners LP now owns 61,200 shares of the industrial products company’s stock valued at $554,000 after acquiring an additional 19,089 shares during the period. Heritage Family Offices LLP acquired a new position in shares of Graphic Packaging during the third quarter worth approximately $34,000. Kestra Advisory Services LLC lifted its holdings in shares of Graphic Packaging by 131.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 25,071 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 14,218 shares in the last quarter. Bfsg LLC lifted its holdings in shares of Graphic Packaging by 9.1% in the 3rd quarter. Bfsg LLC now owns 15,600 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Vise Technologies Inc. lifted its holdings in shares of Graphic Packaging by 30.6% in the 3rd quarter. Vise Technologies Inc. now owns 37,262 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 8,736 shares in the last quarter. Institutional investors own 99.67% of the company’s stock.

Analyst Upgrades and Downgrades

GPK has been the subject of several research reports. Truist Financial set a $9.00 price target on shares of Graphic Packaging in a research report on Wednesday, November 4th. Wells Fargo & Company lowered their price objective on shares of Graphic Packaging from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, September 21st. UBS Group raised their price objective on shares of Graphic Packaging from $9.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Finally, Citigroup reduced their price objective on shares of Graphic Packaging from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $11.01.

Graphic Packaging Stock Performance

Shares of GPK opened at $11.04 on Thursday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.52 and a current ratio of 1.19. The stock has a 50 day moving average price of $9.41 and a two-hundred day moving average price of $10.56. The firm has a market capitalization of $3.27 billion, a P/E ratio of 14.85 and a beta of 0.65. Graphic Packaging Holding Company has a 52 week low of $8.15 and a 52 week high of $16.61.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. Graphic Packaging had a return on equity of 6.78% and a net margin of 0.86%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts forecast that Graphic Packaging Holding Company will post 0.68 earnings per share for the current fiscal year.

Graphic Packaging Profile

Graphic Packaging Holding Company, through its subsidiary Graphic Packaging International, makes fiber-based packaging for food, beverages, foodservice and other consumer products. Its offerings include folding cartons, paper cups, foodservice containers and packaging designed to group or protect products. The company also produces paperboard used in many of its packaging products and provides design and packaging services to consumer-goods companies. Its operations serve customers in North America and international markets.