Berry Global Group (NYSE:BERY) Issues FY 2024 Earnings Guidance

Berry Global Group (NYSE:BERY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of $7.35-$7.85 for the period, compared to the consensus EPS estimate of $7.89. The company issued revenue guidance of -. Berry Global Group also updated its FY24 guidance to $7.35-7.85 EPS.

Berry Global Group Stock Up 1.1 %

NYSE BERY opened at $61.24 on Thursday. Berry Global Group has a 52 week low of $51.94 and a 52 week high of $68.01. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 2.72. The business’s fifty day simple moving average is $58.86 and its 200-day simple moving average is $61.25. The firm has a market cap of $7.23 billion, a PE ratio of 11.55, a P/E/G ratio of 0.72 and a beta of 1.20.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Berry Global Group from $74.00 to $64.00 and set an overweight rating on the stock in a report on Thursday, October 19th. StockNews.com lowered shares of Berry Global Group from a buy rating to a hold rating in a report on Monday, October 16th. Citigroup reduced their price objective on shares of Berry Global Group from $80.00 to $72.00 and set a buy rating on the stock in a report on Tuesday, October 10th. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $73.00 to $78.00 and gave the company an outperform rating in a report on Thursday, August 10th. Finally, Jefferies Financial Group reduced their price objective on shares of Berry Global Group from $86.00 to $83.00 and set a buy rating on the stock in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Berry Global Group has a consensus rating of Moderate Buy and a consensus price target of $71.85.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $54.57, for a total value of $763,980.00. Following the completion of the sale, the director now directly owns 27,258 shares of the company’s stock, valued at $1,487,469.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Large investors have recently modified their holdings of the stock. Quarry LP raised its stake in shares of Berry Global Group by 150.9% during the first quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 323 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Berry Global Group during the first quarter worth approximately $38,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Berry Global Group by 101.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,095 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 551 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Berry Global Group during the second quarter worth approximately $94,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Berry Global Group during the third quarter worth approximately $100,000. Hedge funds and other institutional investors own 98.25% 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. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.