13,543 Shares in Greif, Inc. (NYSE:GEF) Purchased by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC bought a new stake in Greif, Inc. (NYSE:GEF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,543 shares of the industrial products company's stock, valued at approximately $828,000.

Several other hedge funds have also made changes to their positions in GEF. Park Avenue Securities LLC lifted its stake in shares of Greif by 26.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,133 shares of the industrial products company's stock valued at $314,000 after buying an additional 1,077 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Greif by 8.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 22,578 shares of the industrial products company's stock valued at $1,380,000 after buying an additional 1,832 shares during the period. Avior Wealth Management LLC bought a new stake in shares of Greif in the fourth quarter valued at about $31,000. Twelve Points Wealth Management LLC lifted its stake in shares of Greif by 15.1% in the fourth quarter. Twelve Points Wealth Management LLC now owns 30,684 shares of the industrial products company's stock valued at $1,875,000 after buying an additional 4,036 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its stake in shares of Greif by 4.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 5,541 shares of the industrial products company's stock valued at $342,000 after buying an additional 221 shares during the period. Institutional investors own 45.74% of the company's stock.

Greif Stock Performance

NYSE:GEF opened at $56.67 on Monday. Greif, Inc. has a 12-month low of $48.23 and a 12-month high of $73.16. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $2.69 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The firm has a 50-day moving average price of $53.79 and a 200 day moving average price of $59.83.

Greif (NYSE:GEF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.33). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. Greif had a return on equity of 11.84% and a net margin of 4.81%. Research analysts anticipate that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, March 17th. Greif's payout ratio is 61.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Greif from $76.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Robert W. Baird dropped their price target on shares of Greif from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Finally, Truist Financial dropped their price target on shares of Greif from $65.00 to $56.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $75.50.

Insider Transactions at Greif

In related news, Director Frank Calhoun V. Miller purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $58.50 per share, with a total value of $58,500.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $58,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Emkes purchased 3,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $55.89 per share, with a total value of $167,670.00. Following the acquisition, the director now owns 44,257 shares of the company's stock, valued at $2,473,523.73. This represents a 7.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 7.60% of the company's stock.

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.

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