California Public Employees Retirement System lowered its stake in shares of Greif, Inc. (NYSE:GEF) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,429 shares of the industrial products company’s stock after selling 6,312 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Greif worth $4,994,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in GEF. American Century Companies Inc. boosted its position in Greif by 196.2% during the 4th quarter. American Century Companies Inc. now owns 86,530 shares of the industrial products company’s stock valued at $5,242,000 after purchasing an additional 57,317 shares during the period. Algert Global LLC acquired a new position in Greif during the 4th quarter valued at approximately $3,235,000. GSA Capital Partners LLP boosted its position in Greif by 150.9% during the 3rd quarter. GSA Capital Partners LLP now owns 86,007 shares of the industrial products company’s stock valued at $5,035,000 after purchasing an additional 51,726 shares during the period. Alambic Investment Management L.P. boosted its position in Greif by 20.2% during the 4th quarter. Alambic Investment Management L.P. now owns 187,311 shares of the industrial products company’s stock valued at $11,347,000 after purchasing an additional 31,495 shares during the period. Finally, LSV Asset Management boosted its position in Greif by 73.2% during the 4th quarter. LSV Asset Management now owns 71,200 shares of the industrial products company’s stock worth $4,313,000 after acquiring an additional 30,100 shares during the period. Institutional investors and hedge funds own 51.38% of the company’s stock.
Greif, Inc. (GEF) opened at $54.24 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.12 and a current ratio of 1.65. Greif, Inc. has a 12-month low of $47.97 and a 12-month high of $65.60. The stock has a market capitalization of $2,720.00, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Monday, March 19th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.68 annualized dividend and a dividend yield of 3.10%. Greif’s dividend payout ratio (DPR) is 57.14%.
A number of research analysts have issued reports on GEF shares. BMO Capital Markets reiterated a “hold” rating and set a $55.00 price target on shares of Greif in a research report on Friday, November 24th. Zacks Investment Research lowered Greif from a “hold” rating to a “sell” rating in a research report on Thursday, November 30th. DA Davidson upgraded Greif from a “neutral” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Thursday, December 7th. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price target (up previously from $66.00) on shares of Greif in a research report on Friday, December 8th. Finally, KeyCorp set a $47.00 price target on Greif and gave the stock a “sell” rating in a research report on Friday, December 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Greif has a consensus rating of “Hold” and an average target price of $64.00.
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Greif Company Profile
Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.
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