Truist Financial Raises Berry Global Group (NYSE:BERY) Price Target to $74.00

Berry Global Group (NYSE:BERY) had its price objective upped by Truist Financial from $68.00 to $74.00 in a report issued on Tuesday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other research firms have also recently commented on BERY. UBS Group dropped their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.22.

Berry Global Group Stock Up 0.5 %

BERY stock opened at $70.30 on Tuesday. The company has a market cap of $8.04 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. The business has a 50-day simple moving average of $67.03 and a 200 day simple moving average of $62.54. Berry Global Group has a 52 week low of $53.92 and a 52 week high of $70.86. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 earnings per share. Sell-side analysts anticipate that Berry Global Group will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.56%. Berry Global Group’s payout ratio is 26.13%.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in Berry Global Group by 6.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after purchasing an additional 48,484 shares during the period. Quadrature Capital Ltd acquired a new stake in Berry Global Group in the 4th quarter valued at $500,000. First Hawaiian Bank grew its position in Berry Global Group by 11.2% in the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 376 shares during the period. Alaska Permanent Fund Corp grew its position in Berry Global Group by 7.0% in the 1st quarter. Alaska Permanent Fund Corp now owns 40,640 shares of the industrial products company’s stock valued at $2,458,000 after purchasing an additional 2,642 shares during the period. Finally, Thompson Investment Management Inc. grew its position in Berry Global Group by 74.0% in the 1st quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock valued at $6,595,000 after purchasing an additional 46,379 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.