Short Interest in Greif, Inc. (NYSE:GEF) Increases By 16.1%

Greif, Inc. (NYSE:GEF) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 695,000 shares, a growth of 16.1% from the October 31st total of 598,400 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 174,200 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Trading of Greif

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Greif by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 784,004 shares of the industrial products company’s stock valued at $49,126,000 after acquiring an additional 30,192 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Greif by 17.6% in the second quarter. William Blair Investment Management LLC now owns 540,330 shares of the industrial products company’s stock worth $31,053,000 after acquiring an additional 80,754 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Greif by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 524,637 shares of the industrial products company’s stock valued at $32,874,000 after acquiring an additional 44,473 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Greif by 16.7% during the second quarter. AQR Capital Management LLC now owns 372,040 shares of the industrial products company’s stock worth $21,381,000 after buying an additional 53,110 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in Greif by 15.5% during the third quarter. Systematic Financial Management LP now owns 302,552 shares of the industrial products company’s stock worth $18,958,000 after buying an additional 40,494 shares in the last quarter. Institutional investors and hedge funds own 45.74% of the company’s stock.

Greif Price Performance

Shares of GEF traded down $0.28 during mid-day trading on Tuesday, hitting $71.21. 180,627 shares of the stock were exchanged, compared to its average volume of 167,888. The firm has a 50-day moving average of $65.24 and a two-hundred day moving average of $62.91. Greif has a 52-week low of $55.95 and a 52-week high of $73.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.28 and a current ratio of 1.70. The company has a market cap of $3.36 billion, a PE ratio of 15.48 and a beta of 0.92.

Analyst Upgrades and Downgrades

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

Greif Company Profile

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.