Greif, Inc. (NYSE:GEF) Receives $76.00 Consensus Price Target from Brokerages

Shares of Greif, Inc. (NYSE:GEF) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $76.00.

Several equities analysts have recently issued reports on GEF shares. Wells Fargo & Company dropped their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Bank of America dropped their price target on shares of Greif from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Raymond James started coverage on shares of Greif in a research note on Friday, July 19th. They set a “market perform” rating for the company. StockNews.com downgraded shares of Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Truist Financial reaffirmed a “hold” rating and set a $67.00 price target (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th.

Greif Price Performance

Shares of NYSE:GEF opened at $62.17 on Wednesday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 13.37 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.70 and a quick ratio of 1.28. The firm has a 50 day simple moving average of $61.81 and a 200 day simple moving average of $62.49. Greif has a one year low of $55.95 and a one year high of $71.36.

Greif (NYSE:GEF) last issued its quarterly earnings data on Wednesday, August 28th. The industrial products company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.14). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. Research analysts predict that Greif will post 4.2 earnings per share for the current fiscal year.

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were given a dividend of $0.54 per share. The ex-dividend date was Monday, September 16th. This is a boost from Greif’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 3.47%. Greif’s dividend payout ratio is 46.45%.

Institutional Investors Weigh In On Greif

Several large investors have recently modified their holdings of the company. Park Avenue Securities LLC increased its position in shares of Greif by 15.4% during the third quarter. Park Avenue Securities LLC now owns 4,056 shares of the industrial products company’s stock worth $254,000 after buying an additional 540 shares during the period. Sanctuary Advisors LLC acquired a new stake in Greif in the second quarter worth $347,000. Truist Financial Corp acquired a new stake in Greif in the second quarter worth $452,000. Quarry LP grew its holdings in Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 228 shares during the period. Finally, Systematic Financial Management LP grew its holdings in Greif by 12.3% in the second quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company’s stock worth $15,061,000 after purchasing an additional 28,669 shares during the period. 45.74% of the stock is currently owned by institutional investors and hedge funds.

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.