Berry Global Group, Inc. (NYSE:BERY) Receives Consensus Rating of “Hold” from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have been given a consensus rating of “Hold” by the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $72.00.

A number of analysts have weighed in on BERY shares. Barclays reduced their target price on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Truist Financial restated a “hold” rating and set a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. UBS Group raised their price target on Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price target (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th.

Berry Global Group Stock Up 0.9 %

NYSE BERY opened at $57.05 on Friday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The company has a market capitalization of $6.61 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.77 and a beta of 1.25. Berry Global Group has a one year low of $53.83 and a one year high of $69.93. The stock has a 50 day moving average price of $58.73 and a 200-day moving average price of $61.39.

Berry Global Group (NYSE:BERY) last issued 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 the consensus estimate of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, equities analysts predict that Berry Global Group will post 7.38 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in Berry Global Group in the 4th quarter valued at about $2,237,000. Teachers Retirement System of The State of Kentucky raised its position in Berry Global Group by 96.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock valued at $2,488,000 after purchasing an additional 19,674 shares in the last quarter. AQR Capital Management LLC raised its position in Berry Global Group by 2.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock valued at $62,230,000 after purchasing an additional 22,137 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Berry Global Group by 67.0% in the 3rd 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 in the last quarter. Finally, Invesco Ltd. raised its position in Berry Global Group by 60.1% in the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after purchasing an additional 233,368 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.