Greif (NYSE:GEF) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Greif (NYSE:GEFFree Report) from a buy rating to a hold rating in a report released on Wednesday.

GEF has been the subject of several other research reports. Wells Fargo & Company raised their price target on Greif from $78.00 to $80.00 and gave the company an overweight rating in a report on Friday, June 7th. Truist Financial assumed coverage on Greif in a report on Thursday, April 18th. They set a hold rating and a $71.00 price target for the company. Finally, Bank of America raised Greif from a neutral rating to a buy rating and raised their price target for the company from $76.00 to $77.00 in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $80.50.

View Our Latest Research Report on GEF

Greif Trading Up 1.7 %

NYSE GEF opened at $56.95 on Wednesday. The company has a market cap of $2.68 billion, a PE ratio of 12.25 and a beta of 0.92. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 1.38. Greif has a 12 month low of $55.95 and a 12 month high of $76.00. The stock has a 50 day moving average of $61.83 and a 200-day moving average of $63.21.

Greif (NYSE:GEFGet Free Report) last released its quarterly earnings data on Wednesday, June 5th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Greif had a return on equity of 15.57% and a net margin of 5.17%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm posted $1.77 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Greif will post 4.4 EPS for the current fiscal year.

Greif Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Tuesday, June 18th. Greif’s dividend payout ratio is currently 44.73%.

Institutional Investors Weigh In On Greif

A number of hedge funds and other institutional investors have recently modified their holdings of GEF. Verdence Capital Advisors LLC increased its position in shares of Greif by 3.6% in the first quarter. Verdence Capital Advisors LLC now owns 5,109 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 178 shares during the period. Meritage Portfolio Management increased its position in shares of Greif by 5.4% in the fourth quarter. Meritage Portfolio Management now owns 3,609 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 186 shares during the period. Cadence Wealth Management LLC increased its position in shares of Greif by 5.1% in the fourth quarter. Cadence Wealth Management LLC now owns 3,999 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 193 shares during the period. ProShare Advisors LLC increased its position in shares of Greif by 4.6% in the first quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 246 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Greif by 4.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,375 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 376 shares during the period. Institutional investors and hedge funds own 45.74% of the company’s stock.

About Greif

(Get Free Report)

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.

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