Greif (NYSE:GEF) Price Target Lowered to $75.00 at Wells Fargo & Company

Greif (NYSE:GEF) had its price objective trimmed by Wells Fargo & Company from $76.00 to $75.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also recently issued reports on the company. Robert W. Baird decreased their target price on Greif from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial upped their target price on Greif from $67.00 to $71.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Sidoti started coverage on Greif in a research report on Wednesday, November 20th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Bank of America decreased their target price on Greif from $79.00 to $73.00 and set a “buy” rating for the company 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Greif Trading Down 3.2 %

NYSE:GEF opened at $55.44 on Monday. The stock has a 50-day simple moving average of $60.65 and a 200-day simple moving average of $63.05. The stock has a market cap of $2.62 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.02 and a beta of 0.94. Greif has a 1 year low of $53.43 and a 1 year high of $73.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53.

Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.33). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Greif had a return on equity of 11.84% and a net margin of 4.81%. As a group, analysts anticipate that Greif will post 4.11 earnings per share for the current fiscal year.

Greif Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Monday, March 17th. Greif’s dividend payout ratio is presently 61.71%.

Insider Buying and Selling at Greif

In other Greif news, Director B Andrew Rose bought 3,500 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $70.20 per share, with a total value of $245,700.00. Following the purchase, the director now owns 3,500 shares in the company, valued at approximately $245,700. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bala Sathyanarayanan sold 748 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $60.21, for a total value of $45,037.08. Following the transaction, the executive vice president now directly owns 32,729 shares of the company’s stock, valued at approximately $1,970,613.09. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 6,225 shares of company stock valued at $431,731 in the last ninety days. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Greif

Large investors have recently modified their holdings of the business. Avior Wealth Management LLC purchased a new position in shares of Greif during the 4th quarter worth approximately $31,000. Quarry LP purchased a new position in Greif in the 4th quarter valued at approximately $53,000. Quest Partners LLC increased its stake in Greif by 35.0% in the 3rd quarter. Quest Partners LLC now owns 2,257 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 585 shares in the last quarter. Principal Securities Inc. increased its stake in 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, State of Alaska Department of Revenue increased its stake in Greif by 7.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 200 shares in the last quarter. 45.74% of the stock is owned by hedge funds and other institutional investors.

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.