Greif Inc - Class B said on June 5, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Previously, the company paid $0.75 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 19, 2023 will receive the payment on July 1, 2023.
At the current share price of $74.00 / share, the stock's dividend yield is 4.05%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.66%, the lowest has been 3.61%, and the highest has been 8.69%. The standard deviation of yields is 1.16 (n=237).
The current dividend yield is 1.38 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.31. 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.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 592 funds or institutions reporting positions in Greif Inc - Class B. This is a decrease of 28 owner(s) or 4.52% in the last quarter. Average portfolio weight of all funds dedicated to GEF.B is 0.16%, an increase of 2.86%. Total shares owned by institutions decreased in the last three months by 3.56% to 14,164K shares.
Analyst Price Forecast Suggests 16.71% Upside
As of June 2, 2023, the average one-year price target for Greif Inc - Class B is 86.37. The forecasts range from a low of 78.76 to a high of $103.88. The average price target represents an increase of 16.71% from its latest reported closing price of 74.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Greif Inc - Class B is 5,904MM, a decrease of 2.51%. The projected annual non-GAAP EPS is 6.47.
What are Other Shareholders Doing?
Lsv Asset Management holds 1,434K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,497K shares, representing a decrease of 4.39%. The firm decreased its portfolio allocation in GEF.B by 7.93% over the last quarter.
Fuller & Thaler Asset Management holds 1,253K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 1,198K shares, representing an increase of 4.38%. The firm decreased its portfolio allocation in GEF.B by 10.24% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 1,030K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 975K shares, representing an increase of 5.39%. The firm decreased its portfolio allocation in GEF.B by 3.30% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 827K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 44K shares, representing an increase of 94.64%. The firm increased its portfolio allocation in GEF.B by 1,443.72% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 790K shares representing 1.67% ownership of the company. In it's prior filing, the firm reported owning 791K shares, representing a decrease of 0.11%. The firm decreased its portfolio allocation in GEF.B by 9.65% 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.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
