Greif said on February 26, 2024 that its board of directors declared a regular quarterly dividend of $0.78 per share ($3.12 annualized). Previously, the company paid $0.77 per share.
Shares must be purchased before the ex-div date of March 15, 2024 to qualify for the dividend. Shareholders of record as of March 18, 2024 will receive the payment on April 1, 2024.
At the current share price of $63.08 / share, the stock’s dividend yield is 4.95%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.61%, the lowest has been 3.61%, and the highest has been 8.69%. The standard deviation of yields is 1.14 (n=235).
The current dividend yield is 0.58 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.53. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 509 funds or institutions reporting positions in Greif. This is a decrease of 78 owner(s) or 13.29% in the last quarter. Average portfolio weight of all funds dedicated to GEF.B is 0.14%, a decrease of 7.21%. Total shares owned by institutions increased in the last three months by 26.46% to 19,933K shares.
Analyst Price Forecast Suggests 25.18% Upside
As of February 24, 2024, the average one-year price target for Greif is 78.96. The forecasts range from a low of 70.62 to a high of $92.30. The average price target represents an increase of 25.18% from its latest reported closing price of 63.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Greif is 5,867MM, an increase of 13.85%. The projected annual non-GAAP EPS is 6.43.
What are Other Shareholders Doing?
Fuller & Thaler Asset Management holds 1,190K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 1,233K shares, representing a decrease of 3.59%. The firm decreased its portfolio allocation in GEF.B by 16.51% over the last quarter.
Lsv Asset Management holds 1,067K shares representing 2.27% ownership of the company. In it’s prior filing, the firm reported owning 1,117K shares, representing a decrease of 4.64%. The firm decreased its portfolio allocation in GEF.B by 11.99% over the last quarter.
UBVLX – Undiscovered Managers Behavioral Value Fund Class L holds 990K shares representing 2.10% ownership of the company. In it’s prior filing, the firm reported owning 1,017K shares, representing a decrease of 2.66%. The firm decreased its portfolio allocation in GEF.B by 13.86% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 838K shares representing 1.78% ownership of the company. In it’s prior filing, the firm reported owning 832K shares, representing an increase of 0.66%. The firm decreased its portfolio allocation in GEF.B by 11.68% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 773K shares representing 1.64% ownership of the company. In it’s prior filing, the firm reported owning 796K shares, representing a decrease of 2.96%. The firm decreased its portfolio allocation in GEF.B by 11.89% over the last quarter.
Greif Background Information
(This description is provided by the company.)
Greif, Inc. is an American manufacturing company based in Delaware, Ohio. Originally a manufacturer of barrels, the company is now focused on producing industrial packaging and containers.
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