Analysts Set Berry Global Group, Inc. (NYSE:BERY) Target Price at $72.60

Berry Global Group, Inc. (NYSE:BERY) has earned an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $72.60.

Several research analysts have weighed in on BERY shares. Bank of America boosted their price objective on Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Truist Financial restated a “hold” rating and set a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price target (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Finally, Wolfe Research assumed coverage on Berry Global Group in a report on Friday, March 1st. They set a “peer perform” rating for the company.

Berry Global Group Stock Performance

NYSE BERY opened at $60.85 on Monday. The company has a fifty day moving average price of $59.10 and a 200-day moving average price of $61.44. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.27 and a beta of 1.19. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. Berry Global Group has a 1 year low of $53.92 and a 1 year high of $69.93.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.90 by $0.05. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.96 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts predict that Berry Global Group will post 7.43 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s payout ratio is presently 26.13%.

Insider Transactions at Berry Global Group

In related news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the completion of the transaction, the chief financial officer now owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the sale, the chief financial officer now owns 119,384 shares in the company, valued at $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $59.50 per share, with a total value of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares of the company’s stock, valued at $262,216.50. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Goldentree Asset Management LP purchased a new stake in Berry Global Group during the first quarter valued at about $24,524,000. Cetera Advisors LLC lifted its position in Berry Global Group by 24.9% in the 1st quarter. Cetera Advisors LLC now owns 10,026 shares of the industrial products company’s stock worth $606,000 after buying an additional 1,997 shares during the last quarter. Atria Investments Inc boosted its stake in Berry Global Group by 1.9% in the first quarter. Atria Investments Inc now owns 77,902 shares of the industrial products company’s stock worth $4,712,000 after buying an additional 1,437 shares in the last quarter. Virtu Financial LLC bought a new position in Berry Global Group during the first quarter valued at approximately $691,000. Finally, Bluefin Capital Management LLC purchased a new position in shares of Berry Global Group during the first quarter worth approximately $302,000. 95.36% of the stock is currently 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.