Berry Global Group, Inc. (NYSE:BERY) Receives $71.22 Average PT from Brokerages

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $71.22.

Several brokerages have recently issued reports on BERY. Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. UBS Group dropped their price target on 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, StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd.

Berry Global Group Stock Down 0.8 %

Shares of Berry Global Group stock opened at $67.97 on Friday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $70.86. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.10 and a beta of 1.15. The company’s 50 day moving average price is $67.52 and its 200-day moving average price is $62.88.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $1.90 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. Equities research analysts forecast that Berry Global Group will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is currently 26.13%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently modified their holdings of BERY. Quadrature Capital Ltd purchased a new position in shares of Berry Global Group in the 4th quarter worth about $500,000. First Hawaiian Bank raised its position in shares of Berry Global Group by 11.2% in the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 376 shares during the last quarter. Thompson Investment Management Inc. raised its position in shares of Berry Global Group by 74.0% in the 1st quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after purchasing an additional 46,379 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Berry Global Group by 44.0% in the 1st quarter. Sound Income Strategies LLC now owns 54,682 shares of the industrial products company’s stock worth $3,307,000 after purchasing an additional 16,716 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Berry Global Group by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,885 shares of the industrial products company’s stock worth $1,021,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About Berry Global Group

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.