Berry Global Group (NYSE:BERY) Receives Hold Rating from Truist Financial

Truist Financial reaffirmed their hold rating on shares of Berry Global Group (NYSE:BERY) in a research note released on Wednesday, Marketbeat reports. They currently have a $68.00 price target on the industrial products company’s stock, down from their previous price target of $75.00.

A number of other research analysts have also recently weighed in on BERY. TheStreet cut shares of Berry Global Group from a b- rating to a c+ rating in a research report on Monday, February 26th. Wolfe Research started coverage on shares of Berry Global Group in a research report on Friday, March 1st. They set a peer perform rating on the stock. UBS Group boosted their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the company a buy rating in a research report on Tuesday, January 16th. Royal Bank of Canada reiterated a sector perform rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Finally, StockNews.com lowered shares of Berry Global Group from a buy rating to a hold rating in a research note on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Berry Global Group currently has an average rating of Hold and a consensus target price of $72.78.

Berry Global Group Trading Up 2.1 %

Shares of BERY opened at $60.48 on Wednesday. The company’s fifty day moving average is $61.01 and its 200 day moving average is $61.89. Berry Global Group has a fifty-two week low of $53.83 and a fifty-two week high of $69.93. The stock has a market capitalization of $7.01 billion, a PE ratio of 13.01, a P/E/G ratio of 0.80 and a beta of 1.25. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts expect that Berry Global Group will post 7.44 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Insider Buying and Selling

In other Berry Global Group news, Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $56.00 per share, with a total value of $112,000.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $112,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the acquisition, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in BERY. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Berry Global Group by 96.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock valued at $2,488,000 after acquiring an additional 19,674 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Berry Global Group by 2.3% during the third quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock valued at $62,230,000 after acquiring an additional 22,137 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Berry Global Group by 67.0% during the third quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock valued at $6,049,000 after acquiring an additional 39,200 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Berry Global Group by 60.1% during the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after acquiring an additional 233,368 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in shares of Berry Global Group by 16.7% during the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $4,334,000 after acquiring an additional 10,000 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.