Greif (NYSE:GEF) SVP Timothy Bergwall Sells 2,000 Shares

Key Points

• Timothy Bergwall, Senior Vice President of Greif, Inc., sold 2,000 shares at an average price of $60.55, resulting in a 2.91% decrease in his overall position.
• Greif, Inc. recently reported quarterly earnings of $1.03 per share, surpassing analyst expectations, despite a 2.6% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.56, representing a slight increase from the previous dividend, with a 3.6% annual yield.

Greif, Inc. (NYSE:GEF - Get Free Report) SVP Timothy Bergwall sold 2,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $60.55, for a total value of $121,100.00. Following the completion of the transaction, the senior vice president owned 66,678 shares of the company's stock, valued at approximately $4,037,352.90. This represents a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Timothy Bergwall also recently made the following trade(s):

• On Thursday, July 10th, Timothy Bergwall sold 2,000 shares of Greif stock. The stock was sold at an average price of $68.12, for a total transaction of $136,240.00.

Greif Price Performance

NYSE GEF traded up $1.14 during trading hours on Thursday, reaching $62.03. The company's stock had a trading volume of 179,484 shares, compared to its average volume of 189,429. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.18 and a current ratio of 1.41. The company's 50-day moving average is $65.73 and its two-hundred day moving average is $59.90. Greif, Inc. has a fifty-two week low of $48.23 and a fifty-two week high of $73.16. The stock has a market cap of $2.95 billion, a PE ratio of 19.69, a PEG ratio of 2.61 and a beta of 1.01.

Greif (NYSE:GEF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.22. Greif had a net margin of 3.52% and a return on equity of 10.09%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $740.23 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts forecast that Greif, Inc. will post 4.11 EPS for the current year.

Greif Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 16th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from Greif's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, September 16th. Greif's payout ratio is presently 68.57%.

Institutional Investors Weigh In On Greif

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEF. Point72 Asset Management L.P. boosted its position in Greif by 7,222.6% in the 4th quarter. Point72 Asset Management L.P. now owns 233,370 shares of the industrial products company's stock valued at $14,264,000 after buying an additional 230,183 shares during the last quarter. AXA S.A. purchased a new position in Greif in the second quarter valued at about $9,052,000. AQR Capital Management LLC grew its stake in Greif by 54.2% during the 1st quarter. AQR Capital Management LLC now owns 366,449 shares of the industrial products company's stock valued at $20,015,000 after purchasing an additional 128,880 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Greif during the 4th quarter valued at approximately $7,473,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Greif during the 2nd quarter worth approximately $6,052,000. Hedge funds and other institutional investors own 45.74% of the company's stock.

Analysts Set New Price Targets

GEF has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Greif from $72.00 to $76.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Bank of America reduced their target price on Greif from $77.00 to $71.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Truist Financial lowered their price target on Greif from $72.00 to $71.00 and set a "hold" rating for the company in a report on Monday. Finally, Zacks Research lowered shares of Greif from a "hold" rating to a "strong sell" rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Greif has an average rating of "Hold" and a consensus price target of $75.80.

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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