Berry Global Group, Inc. (NYSE:BERY) Given Consensus Recommendation of “Hold” by Brokerages

Berry Global Group, Inc. (NYSE:BERY) has earned an average recommendation of “Hold” from the ten analysts that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $72.00.

Several brokerages have issued reports on BERY. Mizuho cut their price objective on 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 price target (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. UBS Group increased their price target on Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Robert W. Baird reiterated a “neutral” rating and set a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Finally, Barclays dropped their price target on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th.

Berry Global Group Trading Up 0.9 %

Shares of BERY opened at $57.05 on Friday. The company has a market capitalization of $6.61 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.77 and a beta of 1.25. Berry Global Group has a one year low of $53.83 and a one year high of $69.93. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The stock has a 50-day moving average price of $58.73 and a 200 day moving average price of $61.39.

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 analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the company posted $1.30 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts forecast that Berry Global Group will post 7.38 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group’s dividend payout ratio is currently 23.66%.

Insider Activity at Berry Global Group

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

Several large investors have recently modified their holdings of the stock. New York State Teachers Retirement System grew its holdings in shares of Berry Global Group by 6.6% during the first quarter. New York State Teachers Retirement System now owns 88,458 shares of the industrial products company’s stock valued at $5,350,000 after buying an additional 5,469 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of Berry Global Group during the first quarter valued at $598,000. Louisiana State Employees Retirement System grew its holdings in shares of Berry Global Group by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the industrial products company’s stock valued at $2,020,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Berry Global Group by 1.9% during the first quarter. Amalgamated Bank now owns 80,063 shares of the industrial products company’s stock valued at $4,842,000 after buying an additional 1,497 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Berry Global Group by 9.9% during the first quarter. Raymond James & Associates now owns 243,603 shares of the industrial products company’s stock valued at $14,733,000 after buying an additional 22,020 shares in the last quarter. 95.36% of the stock is 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.