Berry Global Group (NYSE:BERY) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research report released on Saturday.

BERY has been the subject of several other reports. UBS Group decreased 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 research note on Wednesday, July 17th. Robert W. Baird reissued a neutral rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Finally, Bank of America boosted their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a buy rating in a research note on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $71.40.

Berry Global Group Stock Down 0.3 %

Berry Global Group stock opened at $64.80 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93. The company has a fifty day simple moving average of $60.71 and a 200 day simple moving average of $60.37. The company has a market cap of $7.41 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.05. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the company earned $1.96 EPS. Berry Global Group’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts anticipate that Berry Global Group will post 7.44 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.275 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.10 annualized dividend and a yield of 1.70%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Insider Transactions at Berry Global Group

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

Institutional Investors Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. FORA Capital LLC acquired a new position in Berry Global Group in the 1st quarter valued at $1,492,000. Thompson Investment Management Inc. raised its stake in Berry Global Group by 74.0% in the first 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 in the last quarter. Sei Investments Co. lifted its position in Berry Global Group by 8.3% during the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after purchasing an additional 12,385 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Berry Global Group by 11.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after purchasing an additional 13,398 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after buying an additional 9,483 shares in the last quarter. 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.