Truist Financial Cuts Greif (NYSE:GEF) Price Target to $56.00

Greif (NYSE:GEF) had its price objective cut by Truist Financial from $65.00 to $56.00 in a report published on Tuesday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

GEF has been the subject of a number of other research reports. Wells Fargo & Company reduced their price objective on Greif from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Robert W. Baird dropped their price target on shares of Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Bank of America lowered their target price on shares of Greif from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Greif currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Greif Stock Performance

Shares of Greif stock opened at $53.78 on Tuesday. The stock has a market cap of $2.55 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. Greif has a 12 month low of $48.23 and a 12 month high of $73.16. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $54.91 and a 200-day simple moving average of $60.83.

Greif (NYSE:GEF) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.33). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Greif had a return on equity of 11.84% and a net margin of 4.81%. On average, sell-side analysts anticipate that Greif will post 4.11 EPS for the current fiscal year.

Greif Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, March 17th. This represents a $2.16 annualized dividend and a yield of 4.02%. Greif’s payout ratio is 61.71%.

Insider Transactions at Greif

In other news, VP David C. Lloyd sold 2,263 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $55.24, for a total transaction of $125,008.12. Following the completion of the transaction, the vice president now owns 7,580 shares of the company’s stock, valued at approximately $418,719.20. This represents a 22.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Calhoun V. Miller purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $58.50 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $58,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Greif

A number of hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC acquired a new position in Greif in the fourth quarter worth about $31,000. Parallel Advisors LLC boosted its stake in Greif by 104.9% in the 1st quarter. Parallel Advisors LLC now owns 838 shares of the industrial products company’s stock valued at $46,000 after buying an additional 429 shares in the last quarter. Quarry LP acquired a new position in Greif during the fourth quarter worth $53,000. Principal Securities Inc. boosted its stake in shares of Greif by 28.2% in the 4th quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 537 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of Greif during the 4th quarter worth about $207,000. Institutional investors and hedge funds own 45.74% of the company’s stock.

Greif Company Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.