Berry Global Group (BERY) Issues Quarterly Earnings Results

Berry Global Group (NYSE:BERY) released its earnings results on Wednesday. The industrial products company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02, Bloomberg Earnings reports. Berry Global Group had a return on equity of 58.69% and a net margin of 4.79%. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis.

Shares of Berry Global Group (NYSE BERY) traded down $2.00 on Wednesday, hitting $55.07. The stock had a trading volume of 1,180,000 shares, compared to its average volume of 829,306. Berry Global Group has a one year low of $47.19 and a one year high of $61.71. The company has a market cap of $7,210.00, a PE ratio of 21.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 5.53.

In other news, CFO Mark W. Miles sold 10,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $58.54, for a total value of $585,400.00. Following the completion of the transaction, the chief financial officer now directly owns 52,916 shares in the company, valued at approximately $3,097,702.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quotient Investors LLC raised its position in Berry Global Group by 4.7% during the 3rd quarter. Quotient Investors LLC now owns 22,100 shares of the industrial products company’s stock worth $1,252,000 after purchasing an additional 1,000 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Berry Global Group by 9.6% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 12,061 shares of the industrial products company’s stock worth $708,000 after acquiring an additional 1,061 shares during the period. Aperio Group LLC grew its holdings in Berry Global Group by 12.9% during the 4th quarter. Aperio Group LLC now owns 10,590 shares of the industrial products company’s stock worth $621,000 after acquiring an additional 1,208 shares during the period. Syntal Capital Partners LLC grew its holdings in Berry Global Group by 11.7% during the 3rd quarter. Syntal Capital Partners LLC now owns 12,772 shares of the industrial products company’s stock worth $723,000 after acquiring an additional 1,337 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Berry Global Group by 17.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,701 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 1,415 shares during the period. Institutional investors own 94.70% of the company’s stock.

Several research firms have weighed in on BERY. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday. BMO Capital Markets upgraded Berry Global Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. SunTrust Banks upped their target price on Berry Global Group to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Citigroup upped their target price on Berry Global Group from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, Royal Bank of Canada upped their target price on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.73.

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About Berry Global Group

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

Earnings History for Berry Global Group (NYSE:BERY)

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