Short Interest in Graphic Packaging Holding (NYSE:GPK) Grows By 17.3%

Graphic Packaging Holding (NYSE:GPK) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 17,270,000 shares, an increase of 17.3% from the May 31st total of 14,720,000 shares. Based on an average daily volume of 2,470,000 shares, the days-to-cover ratio is presently 7.0 days.

Graphic Packaging Price Performance

Shares of NYSE GPK traded down $0.05 during mid-day trading on Friday, hitting $26.21. 6,645,559 shares of the company’s stock traded hands, compared to its average volume of 2,351,848. The company’s 50-day moving average is $27.47 and its two-hundred day moving average is $26.68. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.24 and a quick ratio of 0.52. The company has a market capitalization of $8.05 billion, a P/E ratio of 11.86, a PEG ratio of 9.66 and a beta of 0.87. Graphic Packaging has a 1 year low of $20.07 and a 1 year high of $29.50.

Graphic Packaging (NYSE:GPK) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Graphic Packaging had a net margin of 7.36% and a return on equity of 32.55%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. On average, equities analysts anticipate that Graphic Packaging will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Saturday, June 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, June 14th. Graphic Packaging’s dividend payout ratio is 18.10%.

Institutional Trading of Graphic Packaging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPK. Principal Securities Inc. purchased a new stake in Graphic Packaging in the 4th quarter worth about $26,000. Rise Advisors LLC purchased a new stake in Graphic Packaging in the 1st quarter worth about $26,000. OLD Point Trust & Financial Services N A bought a new position in Graphic Packaging in the 4th quarter worth about $27,000. LRI Investments LLC bought a new position in Graphic Packaging in the 1st quarter worth about $38,000. Finally, GAMMA Investing LLC bought a new position in Graphic Packaging in the 4th quarter worth about $44,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup boosted their price target on shares of Graphic Packaging from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Wells Fargo & Company reiterated an “underweight” rating and issued a $21.00 price target on shares of Graphic Packaging in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.43.

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.