Wells Fargo & Company Raises Greif (NYSE:GEF) Price Target to $76.00

Greif (NYSE:GEF) had its price objective upped by equities research analysts at Wells Fargo & Company from $73.00 to $76.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.14% from the company’s previous close.

GEF has been the subject of several other reports. Zacks Research raised Greif from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen raised shares of Greif from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Robert W. Baird set a $75.00 price target on Greif in a research note on Thursday, January 29th. Finally, Truist Financial raised their price objective on Greif from $71.00 to $79.00 and gave the stock a “hold” rating in a research report on Tuesday, January 6th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat, Greif currently has a consensus rating of “Hold” and an average price target of $75.25.

Greif Stock Performance

Shares of NYSE:GEF traded down $0.74 during trading on Thursday, reaching $74.41. The stock had a trading volume of 11,641 shares, compared to its average volume of 213,166. The stock has a fifty day simple moving average of $71.55 and a two-hundred day simple moving average of $65.37. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.23. Greif has a 52 week low of $48.23 and a 52 week high of $77.14. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 0.58 and a beta of 0.96.

Greif (NYSE:GEF) last released its earnings results on Tuesday, January 27th. The industrial products company reported $0.48 earnings per share 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 return on equity of 8.46% and a net margin of 7.52%.The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. As a group, analysts anticipate that Greif will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Greif

In other Greif news, CFO Lawrence A. Hilsheimer acquired 6,705 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average cost of $91.18 per share, for a total transaction of $611,361.90. Following the transaction, the chief financial officer owned 207,416 shares of the company’s stock, valued at $18,912,190.88. This trade represents a 3.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gaylord Benner sold 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $75.58, for a total transaction of $211,624.00. Following the sale, the senior vice president owned 7,163 shares in the company, valued at $541,379.54. This trade represents a 28.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 22,252 shares of company stock valued at $1,971,735 and have sold 70,944 shares valued at $5,095,812. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in Greif by 75.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 524,603 shares of the industrial products company’s stock worth $31,352,000 after acquiring an additional 225,659 shares during the last quarter. EVR Research LP acquired a new position in Greif during the fourth quarter worth $11,848,000. AXA S.A. bought a new stake in Greif during the second quarter worth about $9,052,000. Cubist Systematic Strategies LLC acquired a new position in Greif during the second quarter valued at approximately $6,052,000. Finally, Deprince Race & Zollo Inc. grew its stake in Greif by 10.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 837,742 shares of the industrial products company’s stock valued at $56,715,000 after purchasing an additional 79,813 shares in the last quarter. 45.74% of the stock is currently owned by institutional investors.

About Greif

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.