Greif, Inc. (NYSE:GEF) CEO Sells $84,420.00 in Stock

Greif, Inc. (NYSE:GEF - Get Free Report) CEO Ole G. Rosgaard sold 1,206 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $70.00, for a total value of $84,420.00. Following the completion of the sale, the chief executive officer directly owned 76,227 shares of the company's stock, valued at $5,335,890. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Greif Price Performance

Greif stock traded down $0.34 during midday trading on Wednesday, hitting $67.87. 39,087 shares of the company's stock were exchanged, compared to its average volume of 180,119. Greif, Inc. has a 52-week low of $48.23 and a 52-week high of $73.16. The stock has a 50-day moving average price of $60.25 and a two-hundred day moving average price of $58.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.96 and a current ratio of 1.27. The company has a market cap of $3.22 billion, a P/E ratio of 19.12, a PEG ratio of 1.73 and a beta of 0.99.

Greif (NYSE:GEF - Get Free Report) last posted its earnings results on Wednesday, June 4th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.08 by $0.11. Greif had a return on equity of 10.21% and a net margin of 3.74%. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Greif, Inc. will post 4.11 earnings per share for the current year.

Greif Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.18%. The ex-dividend date was Tuesday, June 17th. Greif's payout ratio is 60.85%.

Hedge Funds Weigh In On Greif

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in Greif during the first quarter worth about $37,000. Parallel Advisors LLC lifted its stake in Greif by 104.9% during the first quarter. Parallel Advisors LLC now owns 838 shares of the industrial products company's stock worth $46,000 after purchasing an additional 429 shares during the last quarter. Quarry LP bought a new stake in Greif during the fourth quarter worth about $53,000. PharVision Advisers LLC bought a new stake in Greif during the fourth quarter worth about $207,000. Finally, Nomura Holdings Inc. bought a new stake in Greif during the fourth quarter worth about $209,000. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GEF shares. Bank of America reiterated a "neutral" rating and issued a $77.00 price target (up from $71.00) on shares of Greif in a research report on Wednesday. Truist Financial reduced their price target on Greif from $65.00 to $56.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price target on Greif from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Greif currently has a consensus rating of "Hold" and an average price target of $74.83.

Greif Company 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.