Berry Global Group (NYSE:BERY) Rating Reiterated by Robert W. Baird

Robert W. Baird reiterated their neutral rating on shares of Berry Global Group (NYSE:BERY - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have a $65.00 price objective on the industrial products company's stock, down from their previous price objective of $68.00.

Several other research firms also recently issued reports on BERY. TheStreet downgraded shares of Berry Global Group from a b- rating to a c+ rating in a research note on Monday, February 26th. Barclays dropped their price objective on shares of Berry Global Group from $67.00 to $64.00 and set an equal weight rating on the stock in a report on Monday, February 12th. Wolfe Research initiated coverage on shares of Berry Global Group in a research note on Friday, March 1st. They set a peer perform rating on the stock. Truist Financial reaffirmed a hold rating and issued a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an overweight rating in a research note on Monday, December 18th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Berry Global Group has a consensus rating of Hold and a consensus price target of $72.00.

Berry Global Group Price Performance

BERY stock traded down $0.04 during trading on Tuesday, reaching $56.38. 990,813 shares of the company were exchanged, compared to its average volume of 1,181,066. Berry Global Group has a 52-week low of $53.83 and a 52-week high of $69.93. The company has a market cap of $6.53 billion, a P/E ratio of 12.12, a PEG ratio of 0.76 and a beta of 1.25. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The stock's 50 day moving average price is $58.96 and its 200 day moving average price is $61.53.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share 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 firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm earned $1.30 EPS. The business's quarterly revenue was down 6.8% on a year-over-year basis. As a group, analysts predict that Berry Global Group will post 7.42 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group's dividend payout ratio (DPR) is presently 23.66%.

Insider Buying and Selling at Berry Global Group

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

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC bought a new stake in Berry Global Group in the 4th quarter valued at $31,000. Quarry LP grew its holdings in shares of Berry Global Group by 150.9% in the 1st quarter. Quarry LP now owns 537 shares of the industrial products company's stock worth $32,000 after purchasing an additional 323 shares during the last quarter. First Horizon Advisors Inc. grew 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 worth $34,000 after purchasing an additional 224 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Berry Global Group in the 1st quarter worth about $38,000. Finally, Blue Trust Inc. grew its holdings 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 worth $40,000 after purchasing an additional 436 shares during the last quarter. Institutional investors 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.