A number of firms have modified their ratings and price targets on shares of Greif (NYSE: GEF) recently:
- 9/6/2022 – Greif was downgraded by analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating. They now have a $71.00 price target on the stock, down previously from $79.00.
- 9/5/2022 – Greif was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.
- 9/5/2022 – Greif was upgraded by analysts at BMO Capital Markets from an "underperform" rating to a "market perform" rating. They now have a $70.00 price target on the stock, up previously from $52.00.
- 9/2/2022 – Greif is now covered by analysts at Stifel Nicolaus. They set a "buy" rating and a $90.00 price target on the stock.
- 7/22/2022 – Greif was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.
Greif Trading Down 3.1 %
NYSE:GEF opened at $63.87 on Monday. The stock has a fifty day moving average price of $68.18 and a two-hundred day moving average price of $63.64. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.80 and a beta of 0.93. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.05 and a current ratio of 1.48. Greif, Inc. has a 1 year low of $53.65 and a 1 year high of $72.79.
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Greif (NYSE:GEF – Get Rating) last released its quarterly earnings data on Wednesday, August 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.35. The firm had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.60 billion. Greif had a return on equity of 29.00% and a net margin of 5.93%. Greif's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.93 earnings per share. As a group, sell-side analysts anticipate that Greif, Inc. will post 8.01 earnings per share for the current fiscal year.
Greif Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 16th will be given a $0.50 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Greif's previous quarterly dividend of $0.46. Greif's dividend payout ratio (DPR) is currently 31.40%.
Insider Activity
In related news, Director Mark A. Emkes sold 6,000 shares of Greif stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $62.40, for a total transaction of $374,400.00. Following the completion of the sale, the director now owns 34,326 shares in the company, valued at approximately $2,141,942.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Nicholas Joseph Petitti sold 27,696 shares of Greif stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $69.37, for a total transaction of $1,921,271.52. Following the completion of the sale, the insider now owns 19,591 shares in the company, valued at approximately $1,359,027.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Emkes sold 6,000 shares of Greif stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $62.40, for a total value of $374,400.00. Following the sale, the director now owns 34,326 shares of the company's stock, valued at approximately $2,141,942.40. The disclosure for this sale can be found here. Insiders sold a total of 55,481 shares of company stock worth $3,820,097 over the last 90 days. 2.59% of the stock is currently owned by corporate insiders.
Institutional Trading of Greif
A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Greif by 2.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,973 shares of the industrial products company's stock worth $1,184,000 after buying an additional 540 shares during the last quarter. Centiva Capital LP lifted its stake in shares of Greif by 193.2% in the 2nd quarter. Centiva Capital LP now owns 9,200 shares of the industrial products company's stock valued at $574,000 after purchasing an additional 6,062 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Greif by 13.5% in the 2nd quarter. AQR Capital Management LLC now owns 674,487 shares of the industrial products company's stock valued at $41,440,000 after purchasing an additional 80,186 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Greif by 50.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 29,472 shares of the industrial products company's stock valued at $1,838,000 after purchasing an additional 9,919 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Greif by 50.5% in the 2nd quarter. Voya Investment Management LLC now owns 67,442 shares of the industrial products company's stock valued at $4,207,000 after purchasing an additional 22,642 shares in the last quarter. 47.04% of the stock is owned by institutional investors and hedge funds.
Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. It operates in three segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. 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.
Further Reading
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