Wellington Management Group LLP Sells 3,240 Shares of Greif, Inc. (NYSE:GEF)

Wellington Management Group LLP cut its holdings in shares of Greif, Inc. (NYSE:GEF) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 231,293 shares of the industrial products company’s stock after selling 3,240 shares during the quarter. Wellington Management Group LLP’s holdings in Greif were worth $14,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Greif by 16.7% in the second quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company’s stock valued at $21,381,000 after purchasing an additional 53,110 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Greif during the 3rd quarter worth about $518,000. Systematic Financial Management LP raised its holdings in Greif by 12.3% in the 2nd quarter. Systematic Financial Management LP now owns 262,058 shares of the industrial products company’s stock valued at $15,061,000 after acquiring an additional 28,669 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Greif by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company’s stock worth $32,874,000 after acquiring an additional 44,473 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Greif during the second quarter worth approximately $4,012,000. Institutional investors own 45.74% of the company’s stock.

Analyst Upgrades and Downgrades

GEF has been the subject of several research reports. Robert W. Baird lifted their price target on Greif from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Bank of America dropped their target price on Greif from $77.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $88.00 price target on shares of Greif in a research note on Monday, August 26th. Truist Financial reissued a “hold” rating and issued a $67.00 price objective (down previously from $69.00) on shares of Greif in a report on Friday, August 30th. Finally, Sidoti began coverage on shares of Greif in a report on Wednesday, November 20th. They set a “buy” rating and a $93.00 target price on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Greif presently has an average rating of “Moderate Buy” and an average price target of $78.67.

Greif Price Performance

Shares of NYSE:GEF opened at $66.61 on Friday. The firm has a 50 day moving average of $66.47 and a 200-day moving average of $63.20. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $73.16. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.14 billion, a PE ratio of 14.74, a PEG ratio of 1.19 and a beta of 0.92.

Greif (NYSE:GEF) last announced its quarterly earnings data on Wednesday, December 4th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a net margin of 4.81% and a return on equity of 11.85%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Greif, Inc. will post 4.49 EPS for the current fiscal year.

Greif Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, December 16th. Greif’s dividend payout ratio is presently 47.79%.

Greif 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.