Key Points
- Greif SVP Timothy Bergwall sold 2,000 shares for $145,040 at an average price of $72.52 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 3.86% to 49,832 shares.
- Greif’s latest quarterly revenue rose 4.5% year over year to $1.14 billion, but earnings per share of $0.87 missed analysts’ $1.12 estimate.
- The company announced a quarterly dividend of $0.62 per share, equivalent to a 3.5% yield; analysts’ consensus rating was Hold with an $82.20 price target.
Greif, Inc. (NYSE:GEF - Get Free Report) SVP Timothy Bergwall sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $72.52, for a total transaction of $145,040.00. Following the completion of the sale, the senior vice president directly owned 49,832 shares in the company, valued at $3,613,816.64. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Timothy Bergwall also recently made the following trade(s):
- On Monday, October 12th, Timothy Bergwall sold 2,000 shares of Greif stock. The shares were sold at an average price of $81.82, for a total transaction of $163,640.00.
- On Thursday, September 10th, Timothy Bergwall sold 2,000 shares of Greif stock. The shares were sold at an average price of $83.14, for a total transaction of $166,280.00.
Greif Stock Performance
Shares of GEF stock opened at $71.36 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.02 and a current ratio of 1.33. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.57 and a beta of 0.79. Greif, Inc. has a one year low of $59.91 and a one year high of $90.57. The company has a 50 day moving average price of $80.91 and a 200 day moving average price of $74.70.
Greif (NYSE:GEF - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.25). Greif had a net margin of 5.91% and a return on equity of 7.78%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.58 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Greif, Inc. will post 4.59 EPS for the current year.
Greif Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Thursday, December 17th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, December 17th. Greif's dividend payout ratio (DPR) is 55.98%.
Institutional Investors Weigh In On Greif
Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Greif by 35.0% in the second quarter. Wellington Management Group LLP now owns 246,492 shares of the industrial products company's stock worth $18,361,000 after acquiring an additional 63,843 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Greif by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 90,939 shares of the industrial products company's stock valued at $6,099,000 after acquiring an additional 5,071 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Greif by 29.1% during the 2nd quarter. Squarepoint Ops LLC now owns 36,906 shares of the industrial products company's stock valued at $2,749,000 after acquiring an additional 8,322 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Greif by 362.2% during the 2nd quarter. Engineers Gate Manager LP now owns 31,706 shares of the industrial products company's stock valued at $2,362,000 after acquiring an additional 24,846 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Greif during the 1st quarter worth $1,853,000. 45.74% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GEF has been the topic of a number of research analyst reports. Truist Financial reiterated a "hold" rating and issued a $88.00 target price (down from $94.00) on shares of Greif in a report on Thursday, November 5th. Wall Street Zen lowered Greif from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Raymond James Financial upgraded Greif from a "market perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research note on Friday, October 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Greif in a report on Friday, October 30th. Finally, Wells Fargo & Company reduced their price objective on Greif from $90.00 to $88.00 and set a "cautious" rating on the stock in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $82.20.
Get Our Latest Research Report on Greif
Greif Company Profile
(
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Greif, Inc. is a global industrial packaging company that makes products used to store and transport goods. Its offerings include steel, plastic and fiber drums, intermediate bulk containers, jerrycans and other rigid packaging, as well as reconditioned containers and related services. The company also provides packaging accessories and services such as container filling, supply-chain support and packaging design. Greif serves customers in industries including chemicals, food and beverage, petroleum and pharmaceuticals.
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