Victory Capital Management Inc. Has $11.31 Million Position in Greif, Inc. (NYSE:GEF)

Victory Capital Management Inc. reduced its position in shares of Greif, Inc. (NYSE:GEF) by 6.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,472 shares of the industrial products company’s stock after selling 11,884 shares during the period. Victory Capital Management Inc. owned approximately 0.38% of Greif worth $11,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GEF. Quarry LP raised its holdings in Greif by 71.9% in the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 228 shares in the last quarter. Innealta Capital LLC acquired a new position in Greif in the 2nd quarter valued at $64,000. DekaBank Deutsche Girozentrale raised its holdings in Greif by 80.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 561 shares in the last quarter. nVerses Capital LLC acquired a new position in Greif in the 2nd quarter valued at $80,000. Finally, Quest Partners LLC raised its holdings in Greif by 27,766.7% in the 2nd quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 1,666 shares in the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GEF shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Greif in a report on Monday, August 26th. Truist Financial reiterated a “hold” rating and issued a $67.00 price target (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Bank of America decreased their price target on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company decreased their price target on Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, Sidoti started coverage on Greif in a research note on Wednesday. They issued a “buy” rating and a $93.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.40.

Greif Trading Up 4.2 %

Shares of GEF stock opened at $69.83 on Thursday. The firm has a market capitalization of $3.29 billion, a P/E ratio of 15.18 and a beta of 0.91. Greif, Inc. has a twelve month low of $55.95 and a twelve month high of $71.36. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $63.78 and its 200 day simple moving average is $62.51.

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

Greif Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Greif’s previous quarterly dividend of $0.52. Greif’s payout ratio is 46.96%.

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.