Kestra Advisory Services LLC reduced its position in Graphic Packaging Holding (NYSE:GPK – Get Rating) by 35.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,448 shares of the industrial products company's stock after selling 14,778 shares during the period. Kestra Advisory Services LLC's holdings in Graphic Packaging were worth $542,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Verition Fund Management LLC lifted its holdings in shares of Graphic Packaging by 16.4% in the 2nd quarter. Verition Fund Management LLC now owns 215,550 shares of the industrial products company's stock valued at $4,419,000 after purchasing an additional 30,405 shares during the last quarter. Bailard Inc. increased its position in Graphic Packaging by 19.9% in the 2nd quarter. Bailard Inc. now owns 13,187 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 2,187 shares during the period. Advisors Asset Management Inc. increased its position in Graphic Packaging by 3.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 117,039 shares of the industrial products company's stock valued at $2,399,000 after acquiring an additional 3,431 shares during the period. Millennium Management LLC increased its position in Graphic Packaging by 5,965.5% in the 2nd quarter. Millennium Management LLC now owns 2,224,266 shares of the industrial products company's stock valued at $45,597,000 after acquiring an additional 2,187,595 shares during the period. Finally, Csenge Advisory Group increased its position in Graphic Packaging by 10.2% in the 3rd quarter. Csenge Advisory Group now owns 53,134 shares of the industrial products company's stock valued at $1,049,000 after acquiring an additional 4,937 shares during the period. 94.47% of the stock is owned by hedge funds and other institutional investors.
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Graphic Packaging Price Performance
Shares of NYSE:GPK opened at $23.76 on Friday. The business's 50 day simple moving average is $22.39 and its 200-day simple moving average is $22.10. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.30 and a quick ratio of 0.53. Graphic Packaging Holding has a 12 month low of $18.00 and a 12 month high of $24.07.
Wall Street Analyst Weigh In
GPK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Graphic Packaging from $27.00 to $28.00 in a research report on Thursday, October 27th. Royal Bank of Canada boosted their target price on Graphic Packaging from $30.00 to $31.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 26th. StockNews.com began coverage on Graphic Packaging in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Raymond James boosted their target price on Graphic Packaging from $26.00 to $27.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, October 26th. Finally, Bank of America dropped their target price on Graphic Packaging from $27.00 to $25.00 in a research report on Thursday, October 13th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $27.75.
Graphic Packaging Profile
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Graphic Packaging Holding Co engages in the provision of paper-based packaging solutions for a variety of products to food, beverage and other consumer products companies. The firm produces folding cartons, kraft paperboard, coated-recycled boxboard and multi-wall bags. It operates through the following business segments: Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other.
Further Reading
- Get a free copy of the StockNews.com research report on Graphic Packaging (GPK)
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