Victory Capital Management Inc. Has $11.31 Million Stock Holdings in Greif, Inc. (NYSE:GEF)

Victory Capital Management Inc. reduced its position in Greif, Inc. (NYSE:GEF - Free Report) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,472 shares of the industrial products company's stock after selling 11,884 shares during the quarter. Victory Capital Management Inc. owned approximately 0.38% of Greif worth $11,308,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Verdence Capital Advisors LLC boosted its stake in Greif by 3.2% in the third quarter. Verdence Capital Advisors LLC now owns 5,195 shares of the industrial products company's stock worth $326,000 after purchasing an additional 163 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Greif by 7.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company's stock worth $192,000 after purchasing an additional 200 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Greif by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,049 shares of the industrial products company's stock worth $233,000 after buying an additional 222 shares during the last quarter. Quarry LP lifted its holdings 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 buying an additional 228 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Greif by 4.6% in the first quarter. ProShare Advisors LLC now owns 5,616 shares of the industrial products company's stock valued at $388,000 after acquiring an additional 246 shares during the last quarter. 45.74% of the stock is currently owned by institutional investors and hedge funds.

Greif Trading Up 4.2 %

NYSE GEF opened at $69.83 on Thursday. 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 stock's 50-day moving average is $63.78 and its 200-day moving average is $62.51. Greif, Inc. has a one year low of $55.95 and a one year high of $71.36. The firm has a market cap of $3.29 billion, a P/E ratio of 15.18 and a beta of 0.91.

Greif (NYSE:GEF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.14). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Greif had a net margin of 4.99% and a return on equity of 13.28%. Sell-side analysts anticipate that Greif, Inc. will post 4.2 earnings per share for the current fiscal year.

Greif Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid 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 dividend yield of 3.09%. Greif's dividend payout ratio (DPR) is currently 46.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Greif from $80.00 to $76.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. Sidoti assumed coverage on Greif in a research note on Wednesday. They issued a "buy" rating and a $93.00 target price on the stock. Bank of America decreased their target price on Greif from $77.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Truist Financial reissued a "hold" rating and set a $67.00 price objective (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Finally, Stifel Nicolaus restated a "buy" rating and set a $88.00 price objective on shares of Greif in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Greif has a consensus rating of "Moderate Buy" and a consensus target price of $79.40.

Greif Profile

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.