Brokerages Set Greif, Inc. (NYSE:GEF) Price Target at $76.00

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

GEF has been the topic of several recent analyst reports. Bank of America cut their price objective 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. Wells Fargo & Company cut their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Truist Financial restated a “hold” rating and issued a $67.00 price target (down previously from $69.00) on shares of Greif in a report on Friday, August 30th. Raymond James began coverage on shares of Greif in a report on Friday, July 19th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $88.00 price target on shares of Greif in a report on Monday, August 26th.

Institutional Trading of Greif

Large investors have recently bought and sold shares of the company. Quarry LP grew its position in Greif by 71.9% in the second 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 stake in Greif in the second quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale grew its position in Greif by 80.5% in the second 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 stake in shares of Greif during the second quarter worth approximately $80,000. Finally, TFO Wealth Partners LLC grew its position in shares of Greif by 162,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,627 shares in the last quarter. Institutional investors and hedge funds own 45.74% of the company’s stock.

Greif Trading Down 0.6 %

Shares of GEF stock opened at $61.85 on Wednesday. The firm has a market cap of $2.92 billion, a P/E ratio of 13.30 and a beta of 0.91. Greif has a 1-year low of $55.95 and a 1-year high of $71.36. 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’s 50-day simple moving average is $61.59 and its 200-day simple moving average is $62.40.

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

Greif Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a $0.54 dividend. This is an increase from Greif’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.16 annualized dividend and a yield of 3.49%. Greif’s dividend payout ratio (DPR) is 46.45%.

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.