Berry Global Group’s (BERY) “Hold” Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of Berry Global Group (NYSE:BERY) in a research note released on Wednesday, Marketbeat.com reports. They currently have a $68.00 price target on the industrial products company’s stock, down from their prior price target of $75.00.

A number of other brokerages have also recently weighed in on BERY. Barclays decreased 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 cut shares of Berry Global Group from a buy rating to a hold rating in a research report on Thursday, February 8th. TheStreet cut shares of Berry Global Group from a b- rating to a c+ rating in a research report on Monday, February 26th. Wolfe Research initiated coverage on shares of Berry Global Group in a research report on Friday, March 1st. They issued a peer perform rating for the company. Finally, Mizuho decreased their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a neutral rating for the company in a research report on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $72.78.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $60.48 on Wednesday. Berry Global Group has a 52-week low of $53.83 and a 52-week high of $69.93. The firm has a fifty day moving average of $60.76 and a 200-day moving average of $61.86. The stock has a market capitalization of $7.01 billion, a PE ratio of 13.01, a P/E/G ratio of 0.81 and a beta of 1.25. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts anticipate that Berry Global Group will post 7.44 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.275 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.82%. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Insider Activity

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

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Guggenheim Capital LLC increased its stake in shares of Berry Global Group by 2.5% in the second quarter. Guggenheim Capital LLC now owns 6,983 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 168 shares during the period. M&T Bank Corp increased its stake in shares of Berry Global Group by 2.0% in the fourth quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 173 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Berry Global Group by 1.5% in the fourth quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock valued at $737,000 after purchasing an additional 181 shares during the period. Coombe Bender & Co LLC increased its stake in shares of Berry Global Group by 3.3% in the third quarter. Coombe Bender & Co LLC now owns 6,225 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 196 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Berry Global Group by 0.3% in the third quarter. EverSource Wealth Advisors LLC now owns 78,197 shares of the industrial products company’s stock valued at $4,841,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.