Barclays Trims Berry Global Group (NYSE:BERY) Target Price to $64.00

Berry Global Group (NYSE:BERYFree Report) had its target price decreased by Barclays from $67.00 to $64.00 in a research note published on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other research firms have also commented on BERY. Truist Financial lifted their price target on Berry Global Group from $74.00 to $82.00 and gave the stock a buy rating in a research report on Thursday, January 4th. Wells Fargo & Company boosted their price objective on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an overweight rating in a research note on Monday, December 18th. Mizuho reduced their price target on Berry Global Group from $74.00 to $65.00 and set a neutral rating on the stock in a research report on Thursday, February 8th. UBS Group upped their price target on Berry Global Group from $76.00 to $89.00 and gave the stock a buy rating in a research report on Tuesday, January 16th. Finally, StockNews.com downgraded Berry Global Group from a buy rating to a hold rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $75.67.

Get Our Latest Analysis on BERY

Berry Global Group Trading Down 0.6 %

Shares of Berry Global Group stock opened at $58.67 on Monday. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.78 and a beta of 1.29. The business has a 50-day moving average price of $65.90 and a 200-day moving average price of $62.94. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62. Berry Global Group has a twelve month low of $53.83 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERYGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Equities research analysts anticipate that Berry Global Group will post 7.52 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Insider Activity

In related news, Director Peter T. Thomas purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $56.00 per share, with a total value of $112,000.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Berry Global Group news, Director Peter T. Thomas bought 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were acquired at an average cost of $56.00 per share, with a total value of $112,000.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Till sold 11,903 shares of Berry Global Group stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $65.32, for a total transaction of $777,503.96. The disclosure for this sale can be found here. Insiders have sold 103,383 shares of company stock worth $6,763,752 in the last ninety days. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. lifted its position in shares of Berry Global Group by 12.2% during the 4th quarter. Eagle Asset Management Inc. now owns 185,866 shares of the industrial products company’s stock worth $12,526,000 after purchasing an additional 20,259 shares during the last quarter. Bank of Nova Scotia purchased a new stake in Berry Global Group in the fourth quarter valued at $1,291,000. Capstone Investment Advisors LLC purchased a new stake in Berry Global Group in the fourth quarter valued at $384,000. Treasurer of the State of North Carolina lifted its position in Berry Global Group by 55.5% in the fourth quarter. Treasurer of the State of North Carolina now owns 81,445 shares of the industrial products company’s stock valued at $5,489,000 after acquiring an additional 29,078 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Berry Global Group by 5.8% in the fourth quarter. Stifel Financial Corp now owns 19,508 shares of the industrial products company’s stock valued at $1,315,000 after acquiring an additional 1,064 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Company Profile

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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.

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