Berry Global Group, Inc. (NYSE:BERY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Berry Global Group, Inc. (NYSE:BERY – Get Rating) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $71.67.

Several equities research analysts have issued reports on BERY shares. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Monday, May 8th. Truist Financial lowered their target price on Berry Global Group from $70.00 to $69.00 and set a “hold” rating for the company in a research note on Tuesday, April 11th. Royal Bank of Canada boosted their target price on Berry Global Group from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Berry Global Group from $70.00 to $75.00 in a report on Friday, February 3rd. Finally, Wells Fargo & Company increased their price target on Berry Global Group from $68.00 to $75.00 in a research note on Monday, February 6th.

Insider Activity

In other Berry Global Group news, CFO Mark W. Miles sold 37,942 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $61.27, for a total value of $2,324,706.34. Following the completion of the transaction, the chief financial officer now owns 47,058 shares in the company, valued at approximately $2,883,243.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently modified their holdings of BERY. First National Advisers LLC raised its stake in shares of Berry Global Group by 2.4% during the first quarter. First National Advisers LLC now owns 7,796 shares of the industrial products company’s stock worth $459,000 after acquiring an additional 180 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Berry Global Group by 1.5% in the 4th quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock worth $737,000 after acquiring an additional 181 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Berry Global Group by 2.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,491 shares of the industrial products company’s stock worth $694,000 after buying an additional 243 shares during the last quarter. American International Group Inc. increased its position in shares of Berry Global Group by 19.6% during the 2nd quarter. American International Group Inc. now owns 1,690 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 277 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Berry Global Group by 3.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 9,734 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Berry Global Group Stock Down 1.0 %

NYSE:BERY opened at $57.46 on Friday. The stock has a 50-day moving average price of $57.63 and a two-hundred day moving average price of $58.23. Berry Global Group has a 1 year low of $44.52 and a 1 year high of $66.21. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.78 and a beta of 1.16. The company has a current ratio of 1.95, a quick ratio of 1.15 and a debt-to-equity ratio of 2.82.

Berry Global Group (NYSE:BERY – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The industrial products company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.11. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.47 billion. Berry Global Group had a net margin of 5.34% and a return on equity of 29.37%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 EPS. As a group, equities analysts expect that Berry Global Group will post 7.4 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. Berry Global Group’s dividend payout ratio (DPR) is presently 17.54%.

Berry Global Group Company Profile

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Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.