Greif, Inc. (NYSE:GEF) Stock Holdings Reduced by Verition Fund Management LLC

Verition Fund Management LLC lessened its position in shares of Greif, Inc. (NYSE:GEF - Free Report) by 48.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,175 shares of the industrial products company's stock after selling 39,026 shares during the period. Verition Fund Management LLC owned about 0.09% of Greif worth $2,643,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP raised its holdings in shares of Greif by 191.4% during the third quarter. Quantbot Technologies LP now owns 3,433 shares of the industrial products company's stock worth $215,000 after purchasing an additional 2,255 shares during the period. Charles Schwab Investment Management Inc. increased its position in Greif by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company's stock worth $32,874,000 after buying an additional 44,473 shares during the period. Intech Investment Management LLC bought a new stake in Greif in the third quarter valued at $518,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Greif by 14.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,098 shares of the industrial products company's stock valued at $1,259,000 after acquiring an additional 2,531 shares during the period. Finally, Quest Partners LLC grew its position in shares of Greif by 35.0% during the third quarter. Quest Partners LLC now owns 2,257 shares of the industrial products company's stock worth $141,000 after acquiring an additional 585 shares during the last quarter. Institutional investors and hedge funds own 45.74% of the company's stock.

Greif Price Performance

NYSE:GEF traded down $1.12 during trading hours on Thursday, reaching $70.38. 217,941 shares of the company's stock were exchanged, compared to its average volume of 168,220. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $3.32 billion, a P/E ratio of 15.54 and a beta of 0.92. Greif, Inc. has a 12 month low of $55.95 and a 12 month high of $73.16. The business's 50-day simple moving average is $65.62 and its two-hundred day simple moving average is $63.02.

Greif (NYSE:GEF - Get Free Report) last announced its earnings results on Wednesday, December 4th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.23). Greif had a return on equity of 13.28% and a net margin of 4.99%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The business's quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Greif, Inc. will post 4.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America decreased their price objective on Greif from $77.00 to $73.00 and set a "buy" rating for the company in a report on Friday, August 30th. Sidoti began coverage on Greif in a report on Wednesday, November 20th. They set a "buy" rating and a $93.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Greif from $80.00 to $76.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Truist Financial reissued a "hold" rating and set a $67.00 target price (down previously from $69.00) on shares of Greif in a research note on Friday, August 30th. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $88.00 price objective on shares of Greif in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $79.40.

About Greif

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.