9,734 Shares in Greif, Inc. (NYSE:GEF) Bought by Zacks Investment Management

Zacks Investment Management bought a new position in Greif, Inc. (NYSE:GEF - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,734 shares of the industrial products company's stock, valued at approximately $610,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP lifted its stake in Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company's stock worth $31,000 after purchasing an additional 228 shares during the last quarter. Innealta Capital LLC bought a new position in Greif during the 2nd quarter worth approximately $64,000. DekaBank Deutsche Girozentrale increased its stake in Greif by 80.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company's stock worth $73,000 after purchasing an additional 561 shares during the period. nVerses Capital LLC bought a new stake in Greif in the second quarter valued at approximately $80,000. Finally, Quest Partners LLC lifted its position in Greif by 27,766.7% in the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company's stock valued at $96,000 after purchasing an additional 1,666 shares during the last quarter. Hedge funds and other institutional investors own 45.74% of the company's stock.

Greif Stock Down 0.1 %

Shares of Greif stock traded down $0.10 during trading on Wednesday, hitting $68.38. The company's stock had a trading volume of 140,605 shares, compared to its average volume of 168,965. Greif, Inc. has a 52 week low of $55.95 and a 52 week high of $73.16. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.14 and a current ratio of 1.53. The company has a fifty day simple moving average of $66.11 and a two-hundred day simple moving average of $63.13. The company has a market capitalization of $3.23 billion, a PE ratio of 15.04, a P/E/G ratio of 1.19 and a beta of 0.92.

Greif (NYSE:GEF - Get Free Report) last released its earnings results on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a net margin of 4.81% and a return on equity of 11.85%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.56 earnings per share. Greif's revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that Greif, Inc. will post 4.46 earnings per share for the current year.

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, December 16th. Greif's dividend payout ratio is presently 47.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial reiterated a "hold" rating and set a $67.00 price target (down from $69.00) on shares of Greif in a report on Friday, August 30th. Robert W. Baird raised their target price on Greif from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their price target on Greif from $80.00 to $76.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Sidoti assumed coverage on Greif in a research report on Wednesday, November 20th. They issued a "buy" rating and a $93.00 price objective on the stock. Finally, 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 report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.67.

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.