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

Shares of Berry Global Group, Inc. (NYSE:BERY) have been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $71.22.

Several equities analysts have commented on the company. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Truist Financial increased their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, UBS Group decreased their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th.

Berry Global Group Price Performance

Berry Global Group stock opened at $68.50 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $7.84 billion, a PE ratio of 16.27, a P/E/G ratio of 1.10 and a beta of 1.15. Berry Global Group has a 12 month low of $53.92 and a 12 month high of $70.86. The stock has a 50-day moving average price of $67.46 and a two-hundred day moving average price of $62.80.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.02 by $0.16. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. Analysts expect that Berry Global Group will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.61%. Berry Global Group’s dividend payout ratio is currently 26.13%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the firm’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 transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Several large investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in Berry Global Group in the second quarter worth approximately $27,000. Quest Partners LLC boosted its holdings in Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 548 shares in the last quarter. LRI Investments LLC boosted its holdings in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Berry Global Group in the second quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group in the second quarter worth approximately $44,000. Institutional investors and hedge funds 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.