Insider Selling: Berry Global Group, Inc. (NYSE:BERY) Director Sells 14,000 Shares of Stock

Berry Global Group, Inc. (NYSE:BERY) Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction dated 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 directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Berry Global Group Price Performance

Shares of BERY traded up $0.15 during mid-day trading on Thursday, reaching $69.94. 706,407 shares of the company’s stock were exchanged, compared to its average volume of 993,724. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The company has a 50-day simple moving average of $66.76 and a two-hundred day simple moving average of $62.42. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $70.86. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.10 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping the consensus estimate 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%. Berry Global Group’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. On average, sell-side analysts predict that Berry Global Group, Inc. will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.275 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.57%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Analysts Set New Price Targets

A number of analysts have issued reports on BERY shares. UBS Group cut their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Truist Financial boosted their price objective on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $72.40.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning lifted its holdings in shares of Berry Global Group by 3.0% during the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 198 shares in the last quarter. Sound Income Strategies LLC increased its stake in Berry Global Group by 8.8% during the 3rd quarter. Sound Income Strategies LLC now owns 64,292 shares of the industrial products company’s stock worth $4,371,000 after buying an additional 5,174 shares during the period. Simplicity Wealth LLC increased its stake in Berry Global Group by 22.4% during the 3rd quarter. Simplicity Wealth LLC now owns 8,647 shares of the industrial products company’s stock worth $588,000 after buying an additional 1,582 shares during the period. CWM LLC increased its stake in Berry Global Group by 340.0% during the 3rd quarter. CWM LLC now owns 8,843 shares of the industrial products company’s stock worth $601,000 after buying an additional 6,833 shares during the period. Finally, GAMMA Investing LLC increased its stake in Berry Global Group by 332.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock worth $80,000 after buying an additional 908 shares during the period. Institutional investors and hedge funds 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.