Berry Global Group’s (BERY) Neutral Rating Reaffirmed at Robert W. Baird

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

Other research analysts have also issued research reports about the company. UBS Group increased their target price 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. Wolfe Research initiated coverage on Berry Global Group in a research report on Friday, March 1st. They issued a peer perform rating for the company. Mizuho decreased their target price on 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. StockNews.com lowered Berry Global Group from a buy rating to a hold rating in a research report on Thursday, February 8th. Finally, Barclays reduced their price objective on 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. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group has an average rating of Hold and a consensus target price of $72.00.

Berry Global Group Stock Performance

NYSE:BERY opened at $56.34 on Tuesday. 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 52-week low of $53.83 and a 52-week high of $69.93. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.76 and a beta of 1.25. The business’s fifty day moving average is $58.95 and its 200 day moving average is $61.46.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. Berry Global Group’s revenue was down 6.8% compared to the same quarter last year. Research analysts predict that Berry Global Group will post 7.41 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group’s payout ratio is 23.66%.

Insiders Place Their Bets

In other Berry Global Group news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction on 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 acquisition, the director now owns 5,728 shares in the company, valued at $335,030.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Peter T. Thomas purchased 2,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the purchase, the director now directly 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 hyperlink. Also, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was 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 owns 5,728 shares in the company, valued at $335,030.72. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Berry Global Group in the 4th quarter worth $31,000. Quarry LP boosted its stake in shares of Berry Global Group by 150.9% in the 1st quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after buying an additional 323 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Berry Global Group by 69.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after buying an additional 224 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Berry Global Group in the 1st quarter worth $38,000. Finally, Blue Trust Inc. boosted its stake in shares of Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after buying an additional 436 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.