Berry Global Group, Inc. (NYSE:BERY) Receives $72.00 Consensus Target Price from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $72.00.

Several research firms have issued reports on BERY. Truist Financial reiterated a “hold” rating and issued a $68.00 target price (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. UBS Group increased their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Barclays lowered their target price on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. TheStreet cut shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Mizuho lowered their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th.

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $58.49 per share, with a total value of $58,490.00. Following the acquisition, the director now owns 5,728 shares in the company, valued at $335,030.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Berry Global Group news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $58.49 per share, with a total value of $58,490.00. Following the acquisition, the director now owns 5,728 shares in the company, valued at $335,030.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at approximately $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in BERY. SG Americas Securities LLC bought a new stake in Berry Global Group in the 3rd quarter worth $101,000. Oak Thistle LLC grew its holdings in Berry Global Group by 117.7% in the 3rd quarter. Oak Thistle LLC now owns 8,809 shares of the industrial products company’s stock worth $545,000 after acquiring an additional 4,763 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Berry Global Group by 50.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,060 shares of the industrial products company’s stock worth $1,675,000 after acquiring an additional 9,100 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Berry Global Group by 12.2% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 11,547 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 1,260 shares during the period. Finally, Tectonic Advisors LLC lifted its position in shares of Berry Global Group by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 137,701 shares of the industrial products company’s stock worth $8,525,000 after purchasing an additional 4,437 shares during the period. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Down 1.4 %

BERY opened at $56.64 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.77 and a beta of 1.25. Berry Global Group has a twelve month low of $53.83 and a twelve month high of $69.93. The company’s 50-day moving average price is $58.67 and its two-hundred day moving average price is $61.46.

Berry Global Group (NYSE:BERY) last released its 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 company had revenue of $2.85 billion during 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 firm’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, equities analysts expect that Berry Global Group will post 7.38 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s payout ratio is 23.66%.

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.