Greif (NYSE:GEF) Given New $75.00 Price Target at Wells Fargo & Company

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

A number of other equities research analysts also recently commented on the company. Robert W. Baird reduced their target price on Greif from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday. Truist Financial lifted 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 on the stock. Finally, Bank of America reduced their target price on Greif from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Greif presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Greif Stock Performance

NYSE GEF opened at $55.44 on Monday. The stock’s fifty day moving average is $60.65 and its two-hundred day moving average is $63.05. The firm has a market capitalization of $2.62 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. 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 has a fifty-two week low of $53.43 and a fifty-two week high of $73.16.

Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.33). The company 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%. On average, research analysts anticipate that Greif will post 4.11 earnings per share for the current year.

Greif Dividend Announcement

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

Insider Activity at Greif

In other news, Director B Andrew Rose acquired 3,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $70.20 per share, for a total transaction of $245,700.00. Following the acquisition, the director now owns 3,500 shares of the company’s stock, valued at $245,700. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bala Sathyanarayanan sold 748 shares of the business’s stock in a transaction 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 $1,970,613.09. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 6,225 shares of company stock worth $431,731. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC acquired a new position in Greif during the 4th quarter worth $31,000. Quarry LP acquired a new position in Greif during the 4th quarter worth $53,000. Quest Partners LLC grew its stake in Greif by 35.0% during the 3rd quarter. Quest Partners LLC now owns 2,257 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 585 shares in the last quarter. Principal Securities Inc. grew its stake in Greif by 28.2% during the 4th quarter. Principal Securities Inc. now owns 2,444 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 537 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Greif by 7.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 200 shares in the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

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.