Greif Inc. (GEF) Shares Gap Up to $39.10
Greif Inc. (NYSE:GEF)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $39.06, but opened at $39.10. Greif shares last traded at $39.68, with a volume of 96,005 shares.
GEF has been the topic of a number of research reports. BMO Capital Markets lowered Greif from an “outperform” rating to a “market perform” rating in a report on Thursday, June 9th. Robert W. Baird raised their price target on Greif from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Zacks Investment Research lowered Greif from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Deutsche Bank AG reissued a “market perform” rating and set a $36.00 price target on shares of Greif in a report on Wednesday, June 29th. Finally, TheStreet raised Greif from a “hold” rating to a “buy” rating in a report on Wednesday, June 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.40.
The firm’s 50 day moving average price is $38.39 and its 200 day moving average price is $32.48. The firm has a market cap of $1.90 billion and a P/E ratio of 46.00.
Greif (NYSE:GEF) last posted its quarterly earnings data on Wednesday, June 8th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $839.60 million for the quarter, compared to the consensus estimate of $836.77 million. During the same period in the prior year, the firm posted $0.53 earnings per share. Greif’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Greif Inc. will post $2.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Monday, June 20th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.23%.
Several large investors recently modified their holdings of GEF. Systematic Financial Management LP raised its stake in shares of Greif by 67.9% in the fourth quarter. Systematic Financial Management LP now owns 111,980 shares of the company’s stock worth $3,450,000 after buying an additional 45,290 shares during the period. Burney Co. raised its stake in shares of Greif by 28.7% in the fourth quarter. Burney Co. now owns 45,427 shares of the company’s stock worth $1,444,000 after buying an additional 10,135 shares during the period. New York State Common Retirement Fund raised its stake in shares of Greif by 70.0% in the fourth quarter. New York State Common Retirement Fund now owns 170,970 shares of the company’s stock worth $5,268,000 after buying an additional 70,388 shares during the period. California State Teachers Retirement System raised its stake in shares of Greif by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 57,035 shares of the company’s stock worth $1,757,000 after buying an additional 885 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Greif by 5.8% in the fourth quarter. Nationwide Fund Advisors now owns 66,148 shares of the company’s stock worth $2,038,000 after buying an additional 3,649 shares during the period.
Greif, Inc is a producer of industrial packaging products and services. The Company’s products include steel, fiber and plastic drums, rigid intermediate bulk containers, closure systems, transit protection products, water bottles and reconditioned industrial containers, and offers services, such as container life cycle management, blending, filling, logistics, warehousing and other packaging services.
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