Greif (NYSE:GEF) Receives New Coverage from Analysts at Raymond James

Raymond James began coverage on shares of Greif (NYSE:GEF) in a research report released on Friday morning, MarketBeat.com reports. The firm issued a market perform rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. Truist Financial reduced their price target on Greif from $71.00 to $69.00 and set a hold rating on the stock in a report on Tuesday, July 16th. Bank of America upgraded Greif from a neutral rating to a buy rating and boosted their price target for the company from $76.00 to $77.00 in a report on Monday, June 17th. Wells Fargo & Company boosted their price target on Greif from $78.00 to $80.00 and gave the company an overweight rating in a report on Friday, June 7th. Finally, StockNews.com downgraded Greif from a buy rating to a hold rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Greif has a consensus rating of Moderate Buy and a consensus target price of $80.00.

Greif Stock Up 0.2 %

GEF opened at $62.10 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 13.35 and a beta of 0.92. The business’s 50-day moving average price is $61.57 and its 200-day moving average price is $62.98. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 1.38. Greif has a 12 month low of $55.95 and a 12 month high of $76.00.

Greif (NYSE:GEF) last released its quarterly earnings data on Wednesday, June 5th. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Greif had a return on equity of 15.57% and a net margin of 5.17%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Greif will post 4.44 EPS for the current year.

Greif Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Tuesday, June 18th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.35%. Greif’s dividend payout ratio (DPR) is 44.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. TFO Wealth Partners LLC grew its holdings in shares of Greif by 162,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,627 shares during the period. Bfsg LLC bought a new stake in shares of Greif in the 4th quarter worth approximately $176,000. Quest Partners LLC bought a new stake in shares of Greif in the 4th quarter worth approximately $192,000. Sequoia Financial Advisors LLC bought a new stake in shares of Greif in the 4th quarter worth approximately $229,000. Finally, Meritage Portfolio Management boosted its position in shares of Greif by 5.4% in the 4th quarter. Meritage Portfolio Management now owns 3,609 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 45.74% of the company’s stock.

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.