Graphic Packaging Holding (NYSE:GPK) Short Interest Up 9.3% in September

Graphic Packaging Holding (NYSE:GPK) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 16,850,000 shares, an increase of 9.3% from the August 31st total of 15,420,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the days-to-cover ratio is presently 7.5 days.

Graphic Packaging Stock Up 0.5 %

GPK stock traded up $0.14 during mid-day trading on Tuesday, hitting $29.74. 2,398,210 shares of the company were exchanged, compared to its average volume of 2,534,970. The firm has a market cap of $9.14 billion, a P/E ratio of 13.45, a P/E/G ratio of 5.13 and a beta of 0.83. Graphic Packaging has a 1-year low of $20.07 and a 1-year high of $30.66. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45. The firm’s 50 day simple moving average is $28.98 and its 200 day simple moving average is $28.05.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business posted $0.66 EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts predict that Graphic Packaging will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GPK shares. Citigroup lowered their target price on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company lifted their price target 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. Stifel Nicolaus began coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price objective on the stock. StockNews.com raised Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.15.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 86,374 shares of the business’s 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 owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the sale, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Graphic Packaging

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings 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 worth $317,549,000 after buying an additional 3,576,877 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Graphic Packaging by 18.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,873,081 shares of the industrial products company’s stock valued at $311,193,000 after buying an additional 1,889,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Graphic Packaging by 7.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock worth $251,632,000 after buying an additional 706,486 shares during the period. Eminence Capital LP lifted its holdings in shares of Graphic Packaging by 5.7% during the fourth quarter. Eminence Capital LP now owns 7,962,325 shares of the industrial products company’s stock worth $196,271,000 after buying an additional 431,818 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Graphic Packaging by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock valued at $158,693,000 after acquiring an additional 362,509 shares during the period. Institutional investors own 99.67% of the company’s stock.

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.