Berry Global Group, Inc. (NYSE:BERY) Given Consensus Recommendation of “Hold” by Analysts

Berry Global Group, Inc. (NYSE:BERYGet Free Report) has earned a consensus rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $72.78.

Several brokerages recently issued reports on BERY. Truist Financial reissued a “hold” rating and set a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Wells Fargo & Company lifted their target price on shares of Berry Global Group from $72.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, December 18th. TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Barclays lowered their price target on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th.

Check Out Our Latest Stock Report on Berry Global Group

Berry Global Group Trading Down 1.6 %

NYSE BERY opened at $59.65 on Wednesday. The company has a fifty day simple moving average of $60.47 and a two-hundred day simple moving average of $61.79. The stock has a market cap of $6.91 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.82 and a beta of 1.25. Berry Global Group has a 12-month low of $53.83 and a 12-month high of $69.93. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERYGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 EPS. On average, analysts forecast that Berry Global Group will post 7.42 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Insiders Place Their Bets

In other news, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, with a total value of $112,000.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $112,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jonathan F. Foster bought 1,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter T. Thomas acquired 2,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was purchased at an average cost of $56.00 per share, with a total value of $112,000.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in Berry Global Group by 96.0% during the 3rd 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 buying an additional 19,674 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Berry Global Group by 67.0% in the third quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock valued at $6,049,000 after purchasing an additional 39,200 shares during the period. AQR Capital Management LLC grew its stake in Berry Global Group by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after purchasing an additional 22,137 shares in the last quarter. Invesco Ltd. grew its stake in Berry Global Group by 60.1% during the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after purchasing an additional 233,368 shares in the last quarter. Finally, Hudson Bay Capital Management LP raised its position in Berry Global Group by 16.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $4,334,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About Berry Global Group

(Get Free Report

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.

See Also

Analyst Recommendations for Berry Global Group (NYSE:BERY)

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