Greif (NYSE:GEF) Cut to Underperform at Bank of America

Bank of America downgraded shares of Greif (NYSE:GEF) from a neutral rating to an underperform rating in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $70.00 price objective on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research raised shares of Greif from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Truist Financial cut their price objective on shares of Greif from $79.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Wells Fargo & Company reduced their price objective on shares of Greif from $76.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 20th. Finally, Weiss Ratings upgraded Greif from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Greif presently has a consensus rating of “Reduce” and a consensus price target of $74.25.

Greif Stock Performance

GEF stock opened at $75.97 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.00. The business has a 50-day moving average price of $68.31 and a 200 day moving average price of $69.38. The company has a market capitalization of $3.51 billion, a P/E ratio of 29.11, a PEG ratio of 0.79 and a beta of 0.76. Greif has a 1-year low of $55.75 and a 1-year high of $77.14.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.06). Greif had a return on equity of 7.50% and a net margin of 7.27%.The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $1.19 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Greif will post 3.82 EPS for the current fiscal year.

Greif Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a $0.62 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Greif’s previous quarterly dividend of $0.56. Greif’s dividend payout ratio (DPR) is 95.02%.

Insider Buying and Selling at Greif

In other news, SVP Timothy Bergwall sold 2,000 shares of Greif stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $73.14, for a total value of $146,280.00. Following the transaction, the senior vice president owned 63,832 shares of the company’s stock, valued at $4,668,672.48. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,000 shares of company stock valued at $412,120. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Greif

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deprince Race & Zollo Inc. increased its position in shares of Greif by 10.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 837,742 shares of the industrial products company’s stock worth $56,715,000 after purchasing an additional 79,813 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of Greif by 631.5% during the 4th quarter. New Age Alpha Advisors LLC now owns 26,043 shares of the industrial products company’s stock valued at $1,763,000 after purchasing an additional 22,483 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of Greif by 91.5% in the 4th quarter. Wesbanco Bank Inc. now owns 18,839 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 9,000 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Greif in the 1st quarter worth $480,000. Finally, EVR Research LP purchased a new position in Greif during the 4th quarter worth $11,848,000. Hedge funds and other institutional investors own 45.74% of the company’s stock.

About Greif

Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.

The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.