Truist Financial Raises Berry Global Group (NYSE:BERY) Price Target to $74.00

Berry Global Group (NYSE:BERY) had its price objective increased by Truist Financial from $68.00 to $74.00 in a research report released on Tuesday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on BERY. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. UBS Group reduced their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Trading Up 0.5 %

Shares of Berry Global Group stock opened at $70.30 on Tuesday. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $70.86. The stock’s 50-day simple moving average is $67.03 and its 200 day simple moving average is $62.54. The stock has a market capitalization of $8.04 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.10 and a beta of 1.15. 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 (NYSE:BERY) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business posted $1.90 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Berry Global Group will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by insiders.

Institutional Trading of Berry Global Group

Several hedge funds and other institutional investors have recently bought and sold shares of BERY. FORA Capital LLC bought a new stake in Berry Global Group in the first quarter valued at approximately $1,492,000. Thompson Investment Management Inc. lifted its position in Berry Global Group by 74.0% in the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock valued at $6,595,000 after purchasing an additional 46,379 shares during the last quarter. Sei Investments Co. lifted its position in Berry Global Group by 8.3% in the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after purchasing an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Berry Global Group by 11.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock valued at $7,767,000 after purchasing an additional 13,398 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 9,483 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.