Greif, Inc. (NYSE:GEF – Get Rating) – Analysts at Zacks Research reduced their Q4 2023 EPS estimates for Greif in a note issued to investors on Wednesday, March 15th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $1.46 per share for the quarter, down from their previous estimate of $1.48. The consensus estimate for Greif’s current full-year earnings is $5.43 per share. Zacks Research also issued estimates for Greif’s Q3 2024 earnings at $1.46 EPS, Q4 2024 earnings at $1.51 EPS, FY2024 earnings at $5.52 EPS and Q1 2025 earnings at $1.32 EPS.
Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Greif from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 30th. StockNews.com initiated coverage on shares of Greif in a report on Thursday. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Greif presently has a consensus rating of “Hold” and a consensus price target of $72.00.
Greif Trading Down 1.1 %
Greif (NYSE:GEF – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.20). Greif had a return on equity of 25.66% and a net margin of 7.53%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was down 18.7% on a year-over-year basis.
Hedge Funds Weigh In On Greif
A number of institutional investors and hedge funds have recently bought and sold shares of GEF. HighTower Advisors LLC acquired a new position in Greif during the first quarter worth about $1,648,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Greif by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,731 shares of the industrial products company’s stock worth $633,000 after acquiring an additional 928 shares during the last quarter. Yousif Capital Management LLC boosted its position in Greif by 1.9% during the first quarter. Yousif Capital Management LLC now owns 13,901 shares of the industrial products company’s stock worth $904,000 after acquiring an additional 260 shares during the last quarter. Prudential Financial Inc. boosted its position in Greif by 16.8% during the first quarter. Prudential Financial Inc. now owns 202,618 shares of the industrial products company’s stock worth $13,183,000 after acquiring an additional 29,187 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Greif by 52.8% during the first quarter. First Trust Advisors LP now owns 99,060 shares of the industrial products company’s stock worth $6,445,000 after acquiring an additional 34,220 shares during the last quarter. 47.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Greif
In related news, SVP Tina R. Schoner bought 1,000 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was acquired at an average price of $61.30 per share, with a total value of $61,300.00. Following the completion of the purchase, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at $61,300. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Lawrence A. Hilsheimer bought 3,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average price of $69.45 per share, with a total value of $208,350.00. Following the completion of the purchase, the chief financial officer now directly owns 101,892 shares of the company’s stock, valued at $7,076,399.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tina R. Schoner purchased 1,000 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average price of $61.30 per share, for a total transaction of $61,300.00. Following the completion of the transaction, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $61,300. The disclosure for this purchase can be found here. Insiders purchased 11,129 shares of company stock valued at $820,413 over the last 90 days. Corporate insiders own 7.60% of the company’s stock.
Greif Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. Greif’s dividend payout ratio is currently 26.11%.
Greif Company Profile
Greif, Inc engages in the production of industrial packaging products and services. It operates through the following segments: Global Industrial Packaging, Paper Packaging & Services, and Land Management. The Global Industrial Packaging segment involves the production of industrial packaging products, such as steel, fiber & plastic drums, rigid & flexible intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles, and remanufactured & reconditioned industrial containers.
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