Graphic Packaging Holding Company $GPK Stake Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Graphic Packaging Holding Company (NYSE:GPK) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,345,363 shares of the industrial products company’s stock after selling 83,056 shares during the period. Pictet Asset Management Holding SA owned 0.79% of Graphic Packaging worth $21,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new position in shares of Graphic Packaging in the 2nd quarter worth approximately $25,000. Versant Capital Management Inc boosted its stake in shares of Graphic Packaging by 1,075.7% in the 2nd quarter. Versant Capital Management Inc now owns 3,480 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 3,184 shares during the last quarter. Heritage Family Offices LLP bought a new stake in shares of Graphic Packaging in the 3rd quarter valued at $34,000. Bessemer Group Inc. increased its position in shares of Graphic Packaging by 259.4% during the first quarter. Bessemer Group Inc. now owns 4,148 shares of the industrial products company’s stock worth $41,000 after buying an additional 2,994 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Graphic Packaging during the second quarter worth $50,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Graphic Packaging Price Performance

Graphic Packaging stock opened at $11.04 on Thursday. The stock has a market capitalization of $3.27 billion, a price-to-earnings 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. 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’s 50 day moving average price is $9.41 and its two-hundred day moving average price is $10.56.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on GPK. Royal Bank Of Canada lifted their target price on shares of Graphic Packaging from $9.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 4th. Citigroup cut their price target on shares of Graphic Packaging from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Wells Fargo & Company decreased their price target on Graphic Packaging from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Monday, October 19th. Raymond James Financial reissued an “underperform” rating on shares of Graphic Packaging in a research report on Wednesday, November 4th. Finally, UBS Group boosted their price objective on Graphic Packaging from $9.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $11.01.

About Graphic Packaging

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.