Berry Global Group, Inc. (NYSE:BERY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Berry Global Group, Inc. (NYSE:BERYGet Free Report) have received an average rating of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $75.67.

Several research firms recently commented on BERY. Wells Fargo & Company raised their price target on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, December 18th. Truist Financial upped their price target on Berry Global Group from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Mizuho dropped their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. UBS Group upped their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, Jefferies Financial Group dropped their price objective on Berry Global Group from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th.

Get Our Latest Stock Report on BERY

Berry Global Group Stock Down 0.6 %

BERY opened at $58.67 on Tuesday. Berry Global Group has a 52 week low of $53.83 and a 52 week high of $69.93. The business’s fifty day simple moving average is $65.90 and its 200 day simple moving average is $62.94. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62. The firm has a market cap of $6.80 billion, a P/E ratio of 12.62, a PEG ratio of 0.78 and a beta of 1.29.

Berry Global Group (NYSE:BERYGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS. As a group, equities research analysts anticipate that Berry Global Group will post 7.52 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.275 dividend. The ex-dividend date is Thursday, February 29th. This represents a $1.10 annualized dividend and a yield of 1.87%. Berry Global Group’s payout ratio is 23.66%.

Insider Buying and Selling at Berry Global Group

In other news, Director Peter T. Thomas purchased 2,000 shares of the stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $56.00 per share, with a total value of $112,000.00. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $112,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Peter T. Thomas bought 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Till sold 11,903 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $65.32, for a total transaction of $777,503.96. The disclosure for this sale can be found here. Insiders have sold a total of 103,383 shares of company stock worth $6,763,752 over the last ninety days. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BERY. BlackRock Inc. boosted its holdings in Berry Global Group by 91.7% during the second quarter. BlackRock Inc. now owns 10,384,657 shares of the industrial products company’s stock valued at $668,149,000 after acquiring an additional 4,968,179 shares during the period. LSV Asset Management grew its position in Berry Global Group by 4.1% in 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 acquiring an additional 170,317 shares during the period. State Street Corp boosted its stake in Berry Global Group by 70.2% in the second quarter. State Street Corp now owns 3,423,592 shares of the industrial products company’s stock worth $220,274,000 after purchasing an additional 1,412,532 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Berry Global Group by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,282,248 shares of the industrial products company’s stock worth $221,191,000 after purchasing an additional 81,496 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in Berry Global Group by 0.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,667,381 shares of the industrial products company’s stock worth $145,746,000 after buying an additional 10,548 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Company Profile

(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.

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Analyst Recommendations for Berry Global Group (NYSE:BERY)

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