Wells Fargo & Co Cuts Greif (GEF) Price Target to $53.00

Greif (NYSE:GEF) had its target price reduced by Wells Fargo & Co from $65.00 to $53.00 in a research report released on Friday. Wells Fargo & Co currently has an outperform rating on the industrial products company’s stock.

Several other brokerages have also commented on GEF. Zacks Investment Research lowered shares of Greif from a hold rating to a sell rating in a research report on Monday, November 26th. KeyCorp restated a sell rating and set a $50.00 target price on shares of Greif in a research report on Thursday, August 30th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $58.50.

Shares of NYSE GEF traded down $0.47 during trading on Friday, hitting $44.54. 324,212 shares of the company were exchanged, compared to its average volume of 127,165. The firm has a market capitalization of $2.16 billion, a P/E ratio of 12.62, a PEG ratio of 1.30 and a beta of 1.30. Greif has a 1 year low of $43.04 and a 1 year high of $65.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.47.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, December 5th. The industrial products company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.11). The company had revenue of $987.70 million for the quarter, compared to analysts’ expectations of $1.02 billion. Greif had a return on equity of 18.24% and a net margin of 5.41%. On average, sell-side analysts forecast that Greif will post 4 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 18th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, December 17th. This represents a $1.76 annualized dividend and a dividend yield of 3.95%. Greif’s payout ratio is currently 49.86%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Greif during the 2nd quarter worth $370,000. Cubist Systematic Strategies LLC boosted its position in shares of Greif by 956.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,987 shares of the industrial products company’s stock worth $422,000 after buying an additional 7,231 shares in the last quarter. LSV Asset Management boosted its position in shares of Greif by 4.4% in the 2nd quarter. LSV Asset Management now owns 74,300 shares of the industrial products company’s stock worth $3,929,000 after buying an additional 3,100 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Greif by 21.8% in the 2nd quarter. GSA Capital Partners LLP now owns 31,209 shares of the industrial products company’s stock worth $1,651,000 after buying an additional 5,595 shares in the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Greif in the 3rd quarter worth about $17,584,000. Institutional investors own 48.21% of the company’s stock.

About Greif

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates in four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.

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