Victory Capital Management Inc. Sells 21,429 Shares of Greif, Inc. (NYSE:GEF)

Victory Capital Management Inc. trimmed its holdings in shares of Greif, Inc. (NYSE:GEF) by 10.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,356 shares of the industrial products company’s stock after selling 21,429 shares during the quarter. Victory Capital Management Inc. owned 0.41% of Greif worth $11,055,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GEF. Innealta Capital LLC bought a new stake in Greif in the 2nd quarter valued at $64,000. nVerses Capital LLC acquired a new stake in shares of Greif in the 2nd quarter valued at about $80,000. TFO Wealth Partners LLC lifted its holdings in shares of Greif by 162,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,627 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Greif by 770.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,711 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Greif in the 4th quarter valued at approximately $192,000. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEF. Stifel Nicolaus restated a “buy” rating and set a $88.00 price objective on shares of Greif in a research note on Monday, August 26th. Truist Financial restated a “hold” rating and issued a $67.00 price target (down from $69.00) on shares of Greif in a research note on Friday, August 30th. Wells Fargo & Company lowered their price target on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. StockNews.com downgraded Greif from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Bank of America lowered their target price on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.00.

Greif Stock Performance

GEF opened at $61.12 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. Greif, Inc. has a 12-month low of $55.95 and a 12-month high of $71.36. The business has a 50 day moving average of $61.51 and a 200-day moving average of $62.61. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 13.14 and a beta of 0.91.

Greif Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.54 per share. This is an increase from Greif’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, September 16th. This represents a $2.16 annualized dividend and a yield of 3.53%. Greif’s dividend payout ratio (DPR) is currently 44.73%.

About Greif

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.