Wall Street Zen cut shares of Greif (NYSE:GEF – Free Report) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.
A number of other brokerages have also issued reports on GEF. Raymond James Financial raised Greif from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Friday, October 16th. Wells Fargo & Company decreased their price objective on Greif from $90.00 to $88.00 and set a “cautious” rating on the stock in a report on Monday, October 19th. Bank of America cut shares of Greif from a “neutral” rating to an “underperform” rating and set a $70.00 target price on the stock. in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Greif in a report on Friday, October 30th. Finally, Truist Financial reiterated a “hold” rating and issued a $88.00 price objective (down from $94.00) on shares of Greif in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $82.20.
Read Our Latest Analysis on Greif
Greif Price Performance
NYSE GEF opened at $72.50 on Friday. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.33 and a quick ratio of 0.99. The stock’s fifty day moving average price is $81.81 and its 200 day moving average price is $74.69. Greif has a 1 year low of $57.07 and a 1 year high of $90.57.
Greif (NYSE:GEF – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.25). Greif had a return on equity of 7.78% and a net margin of 5.91%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.58 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast that Greif will post 4.59 earnings per share for the current year.
Greif Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Thursday, December 17th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.4%. Greif’s dividend payout ratio is currently 55.98%.
Insider Activity
In other Greif news, EVP Bala Sathyanarayanan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $109.67, for a total value of $109,670.00. Following the transaction, the executive vice president directly owned 7,549 shares in the company, valued at $827,898.83. The trade was a 11.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Timothy Bergwall sold 2,000 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $81.82, for a total transaction of $163,640.00. Following the completion of the transaction, the senior vice president owned 51,832 shares in the company, valued at $4,240,894.24. The trade was a 3.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 7,000 shares of company stock valued at $613,710. 7.70% of the stock is owned by company insiders.
Institutional Trading of Greif
Institutional investors have recently made changes to their positions in the company. Lido Advisors LLC purchased a new position in shares of Greif during the 3rd quarter worth $227,000. Kestra Advisory Services LLC acquired a new stake in shares of Greif during the 3rd quarter worth about $254,000. Vise Technologies Inc. acquired a new stake in shares of Greif during the 3rd quarter worth about $229,000. Pinnacle Wealth Planning Services Inc. increased its position in shares of Greif by 268.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,300 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 947 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in Greif in the 3rd quarter valued at about $392,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.
About Greif
Greif, Inc is a global producer of industrial and paper packaging products and related services. The company manufactures and supplies fiber, steel and plastic drums; intermediate bulk containers; containerboard; corrugated sheets and products; and other packaging solutions for customers in a range of industries.
Greif also provides packaging lifecycle services, including container reconditioning, recycling, logistics and related customer support. Its products are used to package and transport food and beverage ingredients, chemicals, petroleum products, agricultural materials, pharmaceuticals and other industrial goods.
Founded in 1877 as a cooperage business, Greif has expanded into a multinational packaging company serving customers across North America, Europe and other international markets.
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