Victory Capital Management Inc. Has $11.06 Million Position in Greif, Inc. (NYSE:GEF)

Victory Capital Management Inc. cut its position in Greif, Inc. (NYSE:GEF) by 10.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,356 shares of the industrial products company’s stock after selling 21,429 shares during the quarter. Victory Capital Management Inc.’s holdings in Greif were worth $11,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Greif in the second quarter valued at about $64,000. nVerses Capital LLC bought a new stake in shares of Greif in the second quarter valued at approximately $80,000. TFO Wealth Partners LLC grew its position in Greif by 162,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,628 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,627 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Greif by 770.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,933 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 1,711 shares during the period. Finally, Quest Partners LLC acquired a new position in Greif in the 4th quarter valued at $192,000. 45.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GEF has been the topic of a number of recent analyst reports. Bank of America decreased their price target on Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial reiterated a “hold” rating and set a $67.00 price target (down previously from $69.00) on shares of Greif in a research report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price objective on shares of Greif in a research report on Monday, August 26th. Wells Fargo & Company cut their target price on Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Raymond James initiated coverage on Greif in a report on Friday, July 19th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Greif Price Performance

GEF stock opened at $61.12 on Friday. Greif, Inc. has a 1 year low of $55.95 and a 1 year high of $71.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.70 and a quick ratio of 1.28. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 13.14 and a beta of 0.91. The company has a 50 day simple moving average of $61.51 and a 200 day simple moving average of $62.61.

Greif Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Greif’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, September 16th. Greif’s dividend payout ratio is presently 44.73%.

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.