Wall Street Zen upgraded shares of Greif (NYSE:GEF – Free Report) from a hold rating to a buy rating in a report released on Saturday.
Other equities research analysts have also issued reports about the company. Bank of America lowered Greif from a “neutral” rating to an “underperform” rating and set a $70.00 target price for the company. in a research report on Tuesday, July 14th. Zacks Research raised Greif from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded Greif from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. Truist Financial restated a “hold” rating and issued a $97.00 price objective (up from $78.00) on shares of Greif in a report on Tuesday, August 4th. Finally, Wells Fargo & Company upped their price objective on shares of Greif from $74.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Greif has an average rating of “Hold” and a consensus target price of $83.00.
Check Out Our Latest Analysis on Greif
Greif Price Performance
Greif (NYSE:GEF – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.50. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Greif had a net margin of 7.53% and a return on equity of 8.09%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, equities analysts anticipate that Greif will post 4.18 EPS for the current year.
Greif Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were given a dividend of $0.62 per share. This is a boost from Greif’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $2.48 annualized dividend and a yield of 2.8%. Greif’s payout ratio is 77.74%.
Insiders Place Their Bets
In other news, CEO Ole G. Rosgaard sold 40,087 shares of Greif stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $86.68, for a total value of $3,474,741.16. Following the transaction, the chief executive officer directly owned 88,267 shares in the company, valued at approximately $7,650,983.56. This trade represents a 31.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Emkes sold 3,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $87.04, for a total value of $261,120.00. Following the completion of the transaction, the director directly owned 43,400 shares of the company’s stock, valued at approximately $3,777,536. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 97,987 shares of company stock worth $8,498,748. Insiders own 7.70% of the company’s stock.
Institutional Trading of Greif
Several hedge funds have recently modified their holdings of GEF. Ameriprise Financial Inc. grew its position in shares of Greif by 75.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 524,603 shares of the industrial products company’s stock worth $31,352,000 after buying an additional 225,659 shares during the last quarter. Invesco Ltd. lifted its position in Greif by 119.1% during the fourth quarter. Invesco Ltd. now owns 325,951 shares of the industrial products company’s stock valued at $22,067,000 after acquiring an additional 177,203 shares during the last quarter. EVR Research LP acquired a new stake in Greif in the fourth quarter valued at approximately $11,848,000. Cubist Systematic Strategies LLC acquired a new stake in Greif in the second quarter valued at approximately $6,052,000. Finally, Deprince Race & Zollo Inc. grew its holdings in Greif by 10.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 837,742 shares of the industrial products company’s stock worth $56,715,000 after purchasing an additional 79,813 shares during the last quarter. 45.74% of the stock is owned by hedge funds and other institutional investors.
About Greif
Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.
The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.
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