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

Berry Global Group, Inc. (NYSE:BERY) has received an average rating of “Hold” from the ten research firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $71.22.

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently bought and sold shares of BERY. Quadrature Capital Ltd purchased a new stake in Berry Global Group in the fourth quarter valued at approximately $500,000. First Hawaiian Bank grew its position in Berry Global Group by 11.2% during the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 376 shares during the last quarter. Thompson Investment Management Inc. grew its position in Berry Global Group by 74.0% during 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 acquiring an additional 46,379 shares during the last quarter. Sound Income Strategies LLC grew its position in Berry Global Group by 44.0% during the first quarter. Sound Income Strategies LLC now owns 54,682 shares of the industrial products company’s stock valued at $3,307,000 after acquiring an additional 16,716 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Berry Global Group by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,885 shares of the industrial products company’s stock valued at $1,021,000 after acquiring an additional 487 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Price Performance

BERY opened at $67.97 on Friday. The firm has a market cap of $7.78 billion, a P/E ratio of 16.14, a PEG ratio of 1.10 and a beta of 1.15. The firm has a 50-day moving average of $67.52 and a 200 day moving average of $62.88. 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 has a fifty-two week low of $53.92 and a fifty-two week high of $70.86.

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

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s payout ratio is 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.