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

Robert W. Baird restated their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research note released on Tuesday, MarketBeat reports. They currently have a $65.00 price target on the industrial products company’s stock, down from their previous price target of $68.00.

A number of other research firms have also issued reports on BERY. StockNews.com lowered shares of Berry Global Group from a buy rating to a hold rating in a report on Thursday, February 8th. Mizuho dropped their target price on shares of Berry Global Group from $74.00 to $65.00 and set a neutral rating for the company in a report on Thursday, February 8th. Wolfe Research started coverage on shares of Berry Global Group in a report on Friday, March 1st. They set a peer perform rating for the company. 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 report on Monday, December 18th. Finally, Barclays dropped their target price on shares of Berry Global Group from $67.00 to $64.00 and set an equal weight rating for the company in a report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $72.00.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $56.38 on Tuesday. The firm has a market cap of $6.53 billion, a PE ratio of 12.12, a PEG ratio of 0.76 and a beta of 1.25. The firm has a fifty day moving average of $58.96 and a 200 day moving average of $61.53. 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 has a one year low of $53.83 and a one year high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS 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 company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $1.30 EPS. Berry Global Group’s revenue was down 6.8% compared to the same quarter last year. As a group, research analysts predict that Berry Global Group will post 7.42 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.10 annualized dividend and a dividend yield of 1.95%. Berry Global Group’s payout ratio is 23.66%.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BERY. Wealth Enhancement Advisory Services LLC increased its stake in Berry Global Group by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,885 shares of the industrial products company’s stock worth $1,021,000 after purchasing an additional 487 shares during the period. Sound Income Strategies LLC increased its stake in Berry Global Group by 44.0% during the first quarter. Sound Income Strategies LLC now owns 54,682 shares of the industrial products company’s stock worth $3,307,000 after purchasing an additional 16,716 shares during the period. Thompson Investment Management Inc. increased its stake in Berry Global Group by 74.0% during the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after purchasing an additional 46,379 shares during the period. Alaska Permanent Fund Corp increased its stake in Berry Global Group by 7.0% during the first quarter. Alaska Permanent Fund Corp now owns 40,640 shares of the industrial products company’s stock worth $2,458,000 after purchasing an additional 2,642 shares during the period. Finally, First Hawaiian Bank increased its stake in Berry Global Group by 11.2% during the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 376 shares during the period. Institutional investors and hedge funds 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.