Berry Global Group, Inc. (NYSE:BERY) Receives $72.60 Consensus Target Price from Analysts

Berry Global Group, Inc. (NYSE:BERY) has received an average recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $71.40.

BERY has been the subject of several research analyst reports. StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group reduced their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial restated a “hold” rating and issued a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Robert W. Baird restated a “neutral” rating and issued a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Finally, Bank of America lifted their price target on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 10th.

Berry Global Group Trading Down 0.8 %

Berry Global Group stock opened at $63.31 on Friday. The stock has a 50-day moving average of $60.11 and a two-hundred day moving average of $60.58. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The stock has a market cap of $7.24 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.16.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.05. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that Berry Global Group will post 7.44 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.74%. The ex-dividend date was Monday, June 3rd. Berry Global Group’s payout ratio is currently 26.13%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Peter T. Thomas acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $59.50 per share, with a total value of $59,500.00. Following the completion of the acquisition, the director now owns 4,407 shares in the company, valued at $262,216.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Berry Global Group news, CFO Mark W. Miles sold 1,118 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter T. Thomas purchased 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the purchase, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The disclosure for this purchase can be found here. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of Berry Global Group

A number of institutional investors have recently made changes to their positions in BERY. Comerica Bank acquired a new stake in shares of Berry Global Group in the third quarter worth approximately $5,497,000. Hudson Bay Capital Management LP boosted its stake in shares of Berry Global Group by 16.7% in the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock worth $4,334,000 after acquiring an additional 10,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Berry Global Group by 96.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock worth $2,488,000 after acquiring an additional 19,674 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Berry Global Group by 10.6% in the fourth quarter. Sound Income Strategies LLC now owns 37,966 shares of the industrial products company’s stock worth $2,559,000 after acquiring an additional 3,648 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Berry Global Group by 643.5% during the fourth quarter. SG Americas Securities LLC now owns 12,082 shares of the industrial products company’s stock worth $814,000 after buying an additional 10,457 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.