Berry Global Group (NYSE:BERY) Receives “Neutral” Rating from Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a $65.00 price target on the industrial products company’s stock, down from their prior price target of $68.00.

A number of other equities analysts have also weighed in on the stock. Barclays dropped their price target on shares of Berry Global Group from $67.00 to $64.00 and set an equal weight rating for the company in a research report on Monday, February 12th. StockNews.com lowered shares of Berry Global Group from a buy rating to a hold rating in a research report on Thursday, February 8th. Truist Financial restated a hold rating and set a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Wells Fargo & Company upped their target price on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an overweight rating in a research report on Monday, December 18th. Finally, Royal Bank of Canada restated a sector perform rating and set a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Berry Global Group currently has a consensus rating of Hold and a consensus price target of $72.00.

Berry Global Group Stock Performance

BERY opened at $56.38 on Tuesday. The firm has a market cap of $6.53 billion, a P/E ratio of 12.12, a PEG ratio of 0.76 and a beta of 1.25. Berry Global Group has a 1-year low of $53.83 and a 1-year high of $69.93. The company has a 50 day simple moving average of $58.96 and a two-hundred day simple moving average of $61.53. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 earnings per share. Equities analysts forecast that Berry Global Group will post 7.42 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. Shareholders of record on Friday, March 1st were given a dividend of $0.275 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.10 annualized dividend and a yield of 1.95%. Berry Global Group’s dividend payout ratio (DPR) is currently 23.66%.

Insider Buying and Selling at Berry Global Group

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

Institutional Investors Weigh In On Berry Global Group

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Berry Global Group in the 4th quarter worth about $31,000. Quarry LP increased its stake in Berry Global Group by 150.9% in the 1st quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after buying an additional 323 shares during the period. First Horizon Advisors Inc. increased its stake in Berry Global Group by 69.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after buying an additional 224 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Berry Global Group in the 1st quarter worth about $38,000. Finally, Blue Trust Inc. increased its stake in Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after buying an additional 436 shares during the period. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Company Profile

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.