Charles Schwab Investment Management Inc. grew its holdings in Greif, Inc. (NYSE:GEF - Free Report) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 524,637 shares of the industrial products company's stock after buying an additional 44,473 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.11% of Greif worth $32,874,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Verdence Capital Advisors LLC increased its position in Greif by 3.2% in the third quarter. Verdence Capital Advisors LLC now owns 5,195 shares of the industrial products company's stock worth $326,000 after purchasing an additional 163 shares during the period. State of Alaska Department of Revenue increased its position in Greif by 7.0% in the third quarter. State of Alaska Department of Revenue now owns 3,068 shares of the industrial products company's stock worth $192,000 after purchasing an additional 200 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Greif by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,049 shares of the industrial products company's stock worth $233,000 after purchasing an additional 222 shares during the period. Quarry LP increased its position in Greif by 71.9% in the second quarter. Quarry LP now owns 545 shares of the industrial products company's stock worth $31,000 after purchasing an additional 228 shares during the period. Finally, Cadence Wealth Management LLC increased its position in Greif by 11.1% in the second quarter. Cadence Wealth Management LLC now owns 4,460 shares of the industrial products company's stock worth $256,000 after purchasing an additional 444 shares during the period. 45.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently commented on GEF shares. Bank of America lowered their price objective on Greif from $77.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Stifel Nicolaus restated a "buy" rating and set a $88.00 target price on shares of Greif in a report on Monday, August 26th. Sidoti assumed coverage on Greif in a report on Wednesday, November 20th. They set a "buy" rating and a $93.00 target price on the stock. Truist Financial restated a "hold" rating and set a $67.00 target price (down previously from $69.00) on shares of Greif in a report on Friday, August 30th. Finally, Wells Fargo & Company reduced their target price on Greif from $80.00 to $76.00 and set an "overweight" rating on the stock in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Greif currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.40.
Check Out Our Latest Stock Report on GEF
Greif Stock Up 0.4 %
Shares of NYSE:GEF traded up $0.29 during trading on Wednesday, hitting $71.50. 175,275 shares of the company's stock traded hands, compared to its average volume of 168,040. Greif, Inc. has a 52 week low of $55.95 and a 52 week high of $73.16. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 1.35. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 15.48 and a beta of 0.92. The company has a 50-day moving average price of $65.42 and a 200-day moving average price of $62.96.
Greif (NYSE:GEF - Get Free Report) last released its quarterly earnings data on Wednesday, December 4th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a net margin of 4.99% and a return on equity of 13.28%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm earned $1.56 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Greif, Inc. will post 4.2 EPS for the current fiscal year.
About Greif
(
Free Report)
Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.
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