Wells Fargo & Company Cuts Greif (NYSE:GEF) Price Target to $70.00

Greif (NYSE:GEF) had its price target decreased by Wells Fargo & Company from $76.00 to $70.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

GEF has been the topic of several other reports. Truist Financial lifted their target price on shares of Greif from $71.00 to $79.00 and gave the stock a “hold” rating in a research report on Tuesday, January 6th. Zacks Research raised shares of Greif from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Greif from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Robert W. Baird set a $75.00 price objective on Greif in a report on Thursday, January 29th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Greif presently has a consensus rating of “Hold” and an average price target of $73.75.

Greif Price Performance

Shares of GEF opened at $62.52 on Friday. Greif has a 12-month low of $48.23 and a 12-month high of $77.14. The business has a 50-day simple moving average of $71.64 and a two-hundred day simple moving average of $65.91. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.89 billion, a PE ratio of 23.15, a PEG ratio of 0.48 and a beta of 0.95.

Greif (NYSE:GEF) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.21). The firm had revenue of $994.80 million for the quarter, compared to analyst estimates of $1.02 billion. Greif had a net margin of 7.52% and a return on equity of 8.46%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. Analysts anticipate that Greif will post 4.11 earnings per share for the current fiscal year.

Greif Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, March 16th. Greif’s payout ratio is 82.96%.

Insider Activity

In related news, SVP Kimberly Anne Kellermann sold 5,265 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $71.99, for a total transaction of $379,027.35. Following the transaction, the senior vice president directly owned 5,808 shares of the company’s stock, valued at approximately $418,117.92. This represents a 47.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gaylord Benner sold 2,800 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $75.58, for a total value of $211,624.00. Following the completion of the transaction, the senior vice president owned 7,163 shares in the company, valued at approximately $541,379.54. The trade was a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 22,252 shares of company stock valued at $1,971,735 and have sold 54,211 shares valued at $3,950,846. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Greif

A number of institutional investors have recently modified their holdings of GEF. Blue Trust Inc. lifted its holdings in shares of Greif by 36.2% in the 3rd quarter. Blue Trust Inc. now owns 662 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 176 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Greif by 106.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 616 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 317 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Greif by 33.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 689 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 172 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Greif during the fourth quarter worth $84,000. Finally, Simplex Trading LLC raised its holdings in Greif by 399.5% during the fourth quarter. Simplex Trading LLC now owns 1,853 shares of the industrial products company’s stock worth $125,000 after buying an additional 1,482 shares during the last quarter. 45.74% of the stock is owned by institutional investors and hedge funds.

Greif Company Profile

Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif’s longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options.

The company’s core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging.