Berry Global Group (NYSE:BERY) Downgraded by StockNews.com

StockNews.com cut shares of Berry Global Group (NYSE:BERY) from a buy rating to a hold rating in a research report released on Sunday.

Several other analysts have also commented on BERY. Bank of America increased their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the company a buy rating in a research report on Friday, May 10th. UBS Group lowered their target price on shares of Berry Global Group from $89.00 to $77.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Finally, Robert W. Baird reaffirmed a neutral rating and set a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group has an average rating of Hold and an average price target of $71.40.

Berry Global Group Stock Up 1.1 %

Shares of Berry Global Group stock opened at $63.59 on Friday. Berry Global Group has a 1 year low of $53.92 and a 1 year high of $69.93. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.33 and a beta of 1.17. The firm’s 50-day moving average is $61.18 and its two-hundred day moving average is $60.30.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. Berry Global Group’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts expect that Berry Global Group will post 7.44 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.275 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.73%. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Insider Buying and Selling at Berry Global Group

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

Institutional Trading of Berry Global Group

Several hedge funds and other institutional investors have recently bought and sold shares of BERY. EdgePoint Investment Group Inc. boosted its position in Berry Global Group by 16.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after purchasing an additional 1,934,137 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after buying an additional 1,200,021 shares in the last quarter. LSV Asset Management grew its position in Berry Global Group by 4.1% during the fourth quarter. LSV Asset Management now owns 4,330,213 shares of the industrial products company’s stock valued at $291,813,000 after buying an additional 170,317 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Berry Global Group by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,282,248 shares of the industrial products company’s stock valued at $221,191,000 after buying an additional 81,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Berry Global Group by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,389 shares of the industrial products company’s stock worth $149,099,000 after acquiring an additional 38,414 shares during the period. 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.