Evan Bayh Sells 14,000 Shares of Berry Global Group, Inc. (NYSE:BERY) Stock

Berry Global Group, Inc. (NYSE:BERY) Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 approximately $2,119,889.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Berry Global Group Stock Up 0.5 %

Shares of BERY opened at $70.30 on Friday. 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, Inc. has a 52 week low of $53.92 and a 52 week high of $70.86. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.10 and a beta of 1.15. The stock has a fifty day moving average of $67.03 and a 200-day moving average of $62.56.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.275 dividend. 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 dividend payout ratio is currently 26.13%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial increased their target price on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. UBS Group dropped their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BERY. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group in the second quarter valued at approximately $27,000. Quest Partners LLC increased its position in Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the period. LRI Investments LLC increased its position in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group during the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group during the 2nd quarter valued at 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.