Greif (NYSE:GEF) Price Target Cut to $66.00 by Analysts at Wells Fargo & Company

Posted by Defense World Staff on Jun 3rd, 2023

Greif (NYSE:GEF – Get Rating) had its price target cut by Wells Fargo & Company from $69.00 to $66.00 in a research report sent to investors on Friday morning, The Fly reports.

Separately, StockNews.com raised shares of Greif from a hold rating to a buy rating in a research report on Saturday, May 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $71.25.

Greif Trading Up 3.4 %

GEF opened at $61.83 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.67 and a quick ratio of 1.17. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.17 and a beta of 0.96. The firm has a 50 day simple moving average of $62.41 and a 200 day simple moving average of $66.24. Greif has a fifty-two week low of $57.10 and a fifty-two week high of $74.22.

Greif (NYSE:GEF – Get Rating) last issued its earnings results on Wednesday, March 1st. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.20). The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.35 billion. Greif had a net margin of 7.53% and a return on equity of 25.66%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 EPS. On average, sell-side analysts anticipate that Greif will post 5.15 earnings per share for the current year.

Insider Activity

In related news, CFO Lawrence A. Hilsheimer acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average cost of $69.45 per share, with a total value of $208,350.00. Following the completion of the transaction, the chief financial officer now directly owns 101,892 shares of the company’s stock, valued at $7,076,399.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Greif news, CFO Lawrence A. Hilsheimer purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were acquired at an average cost of $69.45 per share, with a total value of $208,350.00. Following the completion of the transaction, the chief financial officer now owns 101,892 shares in the company, valued at $7,076,399.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lawrence A. Hilsheimer purchased 728 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average cost of $70.10 per share, for a total transaction of $51,032.80. Following the completion of the transaction, the chief financial officer now owns 96,392 shares of the company’s stock, valued at approximately $6,757,079.20. The disclosure for this purchase can be found here. Insiders have purchased 8,437 shares of company stock valued at $578,287 over the last ninety days. 7.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Greif

Hedge funds have recently bought and sold shares of the business. Ronald Blue Trust Inc. grew its stake in Greif by 59.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 491 shares of the industrial products company’s stock worth $30,000 after buying an additional 184 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Greif by 90.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 473 shares of the industrial products company’s stock worth $30,000 after buying an additional 225 shares during the period. First Manhattan CO. LLC. acquired a new stake in Greif during the 1st quarter worth approximately $38,000. Spire Wealth Management boosted its position in Greif by 48.9% during the 1st quarter. Spire Wealth Management now owns 700 shares of the industrial products company’s stock worth $44,000 after buying an additional 230 shares during the period. Finally, Freedom Wealth Alliance LLC acquired a new stake in Greif during the 4th quarter worth approximately $67,000. 47.25% of the stock is owned by institutional investors.

About Greif

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Greif, Inc engages in the production of industrial packaging products and services. It operates through the following segments: Global Industrial Packaging, Paper Packaging & Services, and Land Management. The Global Industrial Packaging segment involves the production of industrial packaging products, such as steel, fiber & plastic drums, rigid & flexible intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles, and remanufactured & reconditioned industrial containers.

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