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

Robert W. Baird reaffirmed their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research report sent to investors 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.

Several other analysts also recently weighed in on BERY. TheStreet downgraded shares of Berry Global Group from a b- rating to a c+ rating in a research report on Monday, February 26th. Truist Financial reaffirmed a hold rating and issued a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. UBS Group upped their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the company a buy rating in a report on Tuesday, January 16th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Finally, Wolfe Research began coverage on shares of Berry Global Group in a report on Friday, March 1st. They issued a peer perform rating on the stock. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of Hold and a consensus price target of $72.00.

Berry Global Group Stock Up 0.4 %

NYSE:BERY opened at $56.56 on Tuesday. The company has a market cap of $6.56 billion, a PE ratio of 12.16, a P/E/G ratio of 0.75 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 has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The company’s 50 day moving average is $58.90 and its two-hundred day moving average is $61.42.

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 the consensus estimate of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Analysts anticipate that Berry Global Group will post 7.41 EPS for the current year.

Berry Global Group Announces Dividend

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

Insiders Place Their Bets

In related news, Director Jonathan F. Foster acquired 1,000 shares of Berry Global Group 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 completion of the transaction, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Berry Global Group news, Director Peter T. Thomas bought 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, for a total transaction 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 $112,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $58.49 per share, with a total value of $58,490.00. Following the completion of 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. 4.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Berry Global Group

A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Berry Global Group by 335.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,736 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 9,812 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Berry Global Group by 71.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,152 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 4,640 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Berry Global Group in the first quarter valued at about $329,000. MetLife Investment Management LLC purchased a new stake in shares of Berry Global Group in the first quarter valued at about $156,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Berry Global Group by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 8,248 shares of the industrial products company’s stock valued at $509,000 after purchasing an additional 314 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.