Berry Global Group (NYSE:BERY) Given New $81.00 Price Target at Bank of America

Berry Global Group (NYSE:BERYFree Report) had its target price boosted by Bank of America from $74.00 to $81.00 in a research note issued to investors on Friday, Benzinga reports. Bank of America currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. TheStreet cut shares of Berry Global Group from a b- rating to a c+ rating in a research report on Monday, February 26th. UBS Group boosted their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a buy rating in a report on Tuesday, January 16th. Truist Financial reissued a hold rating and set a $68.00 price target (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Royal Bank of Canada restated a sector perform rating and set a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Finally, Robert W. Baird reissued a neutral rating and set a $65.00 target price (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $72.60.

Read Our Latest Analysis on BERY

Berry Global Group Price Performance

BERY stock traded up $0.12 on Friday, hitting $59.89. 1,244,940 shares of the company’s stock traded hands, compared to its average volume of 934,963. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.81 and a beta of 1.24. The company has a current ratio of 0.37, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The stock has a fifty day moving average of $58.79 and a 200-day moving average of $61.57. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93.

Berry Global Group (NYSE:BERYGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.05. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. On average, analysts forecast that Berry Global Group will post 7.38 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.10 annualized dividend and a dividend yield of 1.84%. Berry Global Group’s dividend payout ratio is currently 26.13%.

Insiders Place Their Bets

In related news, Director Jonathan F. Foster bought 1,000 shares of the stock in a transaction dated Monday, February 12th. The shares were 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 directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BERY. GAMMA Investing LLC acquired a new position in Berry Global Group in the fourth quarter valued at about $31,000. First Horizon Advisors Inc. increased its holdings 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 valued at $34,000 after acquiring an additional 224 shares during the period. Blue Trust Inc. grew 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 valued at $40,000 after purchasing an additional 436 shares during the last quarter. Quarry LP raised its position in Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after buying an additional 615 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Berry Global Group by 200.0% in the fourth quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

About Berry Global Group

(Get Free Report)

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.

See Also

Analyst Recommendations for Berry Global Group (NYSE:BERY)

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.