Brokerages Set Berry Global Group, Inc. (NYSE:BERY) PT at $71.22

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

Several research firms have recently commented on BERY. UBS Group cut 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. Truist Financial lifted their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley started coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company.

Berry Global Group Price Performance

BERY stock opened at $68.94 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 $7.89 billion, a P/E ratio of 16.38, a PEG ratio of 1.10 and a beta of 1.15. The business has a 50 day simple moving average of $67.29 and a 200-day simple moving average of $62.72. Berry Global Group has a twelve month low of $53.92 and a twelve month high of $70.86.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm 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 business earned $1.90 EPS. Berry Global Group’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Berry Global Group will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is presently 26.13%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Institutional investors have recently added to or reduced their stakes in the company. Berry Wealth Group LP acquired a new position in shares of Berry Global Group during the 3rd quarter valued at $231,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Berry Global Group by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after purchasing an additional 37,242 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of Berry Global Group by 12.9% in the third quarter. OLD National Bancorp IN now owns 7,485 shares of the industrial products company’s stock worth $509,000 after buying an additional 857 shares during the period. Raymond James & Associates grew its stake in shares of Berry Global Group by 32.3% in the third quarter. Raymond James & Associates now owns 261,538 shares of the industrial products company’s stock valued at $17,779,000 after buying an additional 63,836 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Berry Global Group by 149.3% during the 3rd quarter. Blue Trust Inc. now owns 3,829 shares of the industrial products company’s stock valued at $260,000 after buying an additional 2,293 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.