Berry Global Group, Inc. (NYSE:BERY) Receives $72.60 Average Price Target from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $72.60.

A number of equities analysts recently weighed in on the stock. Robert W. Baird reissued a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Wolfe Research initiated coverage on Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Truist Financial reissued a “hold” rating and set a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, TheStreet lowered Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th.

Insiders Place Their Bets

In other news, CFO Mark W. Miles sold 1,118 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the completion of the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Berry Global Group news, Director Peter T. Thomas acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the acquisition, the director now owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the completion of the transaction, the chief financial officer now owns 119,384 shares in the company, valued at $7,197,661.36. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Berry Global Group during the fourth quarter worth $31,000. LRI Investments LLC acquired a new position in Berry Global Group during the first quarter worth $38,000. Blue Trust Inc. lifted its stake in Berry Global Group by 203.7% during the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 436 shares in the last quarter. Quarry LP increased its position in shares of Berry Global Group by 433.1% during the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 615 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Berry Global Group during the first quarter worth $100,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

NYSE BERY opened at $60.63 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. The firm’s fifty day moving average price is $58.97 and its two-hundred day moving average price is $61.54. Berry Global Group has a 1 year low of $53.92 and a 1 year high of $69.93. The firm has a market capitalization of $6.94 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.05. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. Berry Global Group’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.96 earnings per share. As a group, research analysts anticipate that Berry Global Group will post 7.43 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.275 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.10 annualized dividend and a yield of 1.81%. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

About Berry Global Group

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.