Berry Global Group (NYSE:BERY – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided EPS guidance of $7.30-$7.80 for the period, compared to the consensus EPS estimate of $7.80. The company issued revenue guidance of -.
Analyst Ratings Changes
A number of equities analysts recently issued reports on BERY shares. Royal Bank of Canada raised their target price on Berry Global Group from $69.00 to $71.00 and gave the stock an outperform rating in a research note on Thursday, November 17th. Mizuho cut their price target on Berry Global Group from $69.00 to $63.00 and set a neutral rating on the stock in a research report on Wednesday, November 16th. Barclays increased their price target on Berry Global Group from $55.00 to $60.00 and gave the stock an equal weight rating in a research report on Tuesday, November 22nd. Bank of America cut their price target on Berry Global Group from $77.00 to $72.00 in a research report on Thursday, October 13th. Finally, Robert W. Baird cut their price target on Berry Global Group to $68.00 in a research report on Thursday, November 17th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group currently has an average rating of Moderate Buy and a consensus price target of $67.17.
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Berry Global Group Trading Down 0.5 %
BERY stock opened at $59.75 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.18 and a debt-to-equity ratio of 2.89. Berry Global Group has a 12-month low of $44.52 and a 12-month high of $74.73. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.80 and a beta of 1.23. The business's 50-day moving average is $52.82 and its 200 day moving average is $54.03.
Berry Global Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, November 30th. Berry Global Group's payout ratio is 17.24%.
Insider Buying and Selling
In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now directly owns 250 shares of the company's stock, valued at approximately $15,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now directly owns 250 shares of the company's stock, valued at approximately $15,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Edward Hill sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $47.17, for a total transaction of $47,170.00. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.
Institutional Trading of Berry Global Group
Several institutional investors have recently made changes to their positions in BERY. Brown Brothers Harriman & Co. purchased a new stake in shares of Berry Global Group during the 1st quarter valued at approximately $38,000. American International Group Inc. raised its position in shares of Berry Global Group by 19.6% during the 2nd quarter. American International Group Inc. now owns 1,690 shares of the industrial products company's stock valued at $92,000 after buying an additional 277 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Berry Global Group during the 1st quarter valued at approximately $156,000. Dakota Wealth Management raised its position in shares of Berry Global Group by 45.8% during the 1st quarter. Dakota Wealth Management now owns 4,129 shares of the industrial products company's stock valued at $239,000 after buying an additional 1,297 shares during the period. Finally, Yousif Capital Management LLC raised its position in shares of Berry Global Group by 13.0% during the 1st quarter. Yousif Capital Management LLC now owns 4,212 shares of the industrial products company's stock valued at $244,000 after buying an additional 485 shares during the period. Hedge funds and other institutional investors own 89.88% of the company's stock.
About Berry Global Group
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Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.
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