Victory Capital Management Inc. lessened its holdings in shares of Greif, Inc. (NYSE:GEF - Free Report) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,356 shares of the industrial products company's stock after selling 21,429 shares during the quarter. Victory Capital Management Inc. owned about 0.41% of Greif worth $11,055,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Greif in the 4th quarter worth approximately $10,972,000. Mirova bought a new stake in Greif in the 1st quarter worth approximately $2,597,000. Charles Schwab Investment Management Inc. lifted its position in Greif by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 409,407 shares of the industrial products company's stock worth $26,853,000 after buying an additional 15,169 shares during the last quarter. Denali Advisors LLC lifted its position in Greif by 20.2% in the 1st quarter. Denali Advisors LLC now owns 77,313 shares of the industrial products company's stock worth $5,338,000 after buying an additional 13,018 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in Greif by 309.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 14,841 shares of the industrial products company's stock worth $973,000 after buying an additional 11,219 shares during the last quarter. Institutional investors own 45.74% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GEF. Raymond James started coverage on Greif in a research report on Friday, July 19th. They issued a "market perform" rating for the company. Bank of America decreased their price target on Greif from $77.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, August 30th. Truist Financial reaffirmed a "hold" rating and issued a $67.00 price target (down from $69.00) on shares of Greif in a research note on Friday, August 30th. StockNews.com cut Greif from a "buy" rating to a "hold" rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $88.00 target price on shares of Greif in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $76.00.
Check Out Our Latest Stock Analysis on GEF
Greif Trading Up 2.0 %
Shares of GEF traded up $1.18 during mid-day trading on Friday, hitting $61.12. 108,859 shares of the company's stock traded hands, compared to its average volume of 166,102. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. Greif, Inc. has a 1 year low of $55.95 and a 1 year high of $71.36. The firm has a market capitalization of $2.88 billion, a P/E ratio of 13.14 and a beta of 0.91. The business's 50-day moving average price is $61.51 and its 200-day moving average price is $62.62.
Greif Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.53%. This is a boost from Greif's previous quarterly dividend of $0.52. The ex-dividend date is Monday, September 16th. Greif's dividend payout ratio is presently 44.73%.
About Greif
(
Free Report)
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.
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