Robert W. Baird Reaffirms Neutral Rating for Berry Global Group (NYSE:BERY)

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

Several other equities analysts have also issued reports on the company. Truist Financial reiterated a hold rating and issued a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Barclays decreased 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. UBS Group boosted their price objective on Berry Global Group from $76.00 to $89.00 and gave the company a buy rating in a research report on Tuesday, January 16th. Mizuho reduced their price target 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. Finally, TheStreet downgraded Berry Global Group from a b- rating to a c+ rating in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $72.00.

Berry Global Group Stock Performance

Shares of BERY stock opened at $56.34 on Tuesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The stock has a market cap of $6.53 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The stock has a 50-day moving average of $58.95 and a 200-day moving average of $61.46. Berry Global Group has a one year low of $53.83 and a one year high of $69.93.

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

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.275 dividend. This represents a $1.10 annualized dividend 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 presently 23.66%.

Insider Activity

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

Institutional Investors Weigh In On Berry Global Group

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Berry Global Group in the 4th quarter valued at $31,000. Quarry LP increased its position in Berry Global Group by 150.9% during 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 period. First Horizon Advisors Inc. increased its position in Berry Global Group by 69.6% during 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 period. Brown Brothers Harriman & Co. bought a new position in Berry Global Group during the 1st quarter worth $38,000. Finally, Blue Trust Inc. increased its position in Berry Global Group by 203.7% during 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 period. Institutional investors own 95.36% of the company’s stock.

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.