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Berry Global Group (NYSE:BERY) PT Raised to $60.00

Financial News Live · Jan 14, 2023 04:21

Berry Global Group (NYSE:BERY – Get Rating) had its price target increased by Morgan Stanley from $55.00 to $60.00 in a research report sent to investors on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the industrial products company's stock.

Several other equities research analysts also recently commented on BERY. Royal Bank of Canada lifted their price objective on shares of Berry Global Group from $69.00 to $71.00 and gave the stock an outperform rating in a research note on Thursday, November 17th. Credit Suisse Group reduced their target price on shares of Berry Global Group from $78.00 to $75.00 and set an outperform rating for the company in a report on Tuesday, December 6th. Wells Fargo & Company reduced their target price on shares of Berry Global Group from $74.00 to $68.00 and set an overweight rating for the company in a report on Wednesday, October 12th. Mizuho reduced their target price on shares of Berry Global Group from $69.00 to $63.00 and set a neutral rating for the company in a report on Wednesday, November 16th. Finally, Barclays raised their target price on shares of Berry Global Group from $55.00 to $60.00 and gave the stock an equal weight rating in a report on Tuesday, November 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $68.50.

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Berry Global Group Trading Down 0.3 %

NYSE:BERY opened at $61.55 on Tuesday. Berry Global Group has a 12 month low of $44.52 and a 12 month high of $73.90. The firm has a fifty day simple moving average of $58.17 and a 200-day simple moving average of $54.64. The company has a current ratio of 1.82, a quick ratio of 1.18 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $7.50 billion, a P/E ratio of 10.61, a PEG ratio of 0.82 and a beta of 1.19.

Berry Global Group (NYSE:BERY – Get Rating) last posted its quarterly earnings data on Tuesday, November 15th. The industrial products company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.15 by $0.04. Berry Global Group had a net margin of 5.28% and a return on equity of 30.32%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.68 billion. On average, equities research analysts anticipate that Berry Global Group will post 7.51 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.62%. Berry Global Group's dividend payout ratio is currently 17.24%.

Insider Transactions at Berry Global Group

In other news, EVP Jason K. Greene sold 10,000 shares of the business's stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now owns 250 shares of the company's stock, valued at $15,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company's stock.

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently modified their holdings of BERY. Wipfli Financial Advisors LLC purchased a new stake in shares of Berry Global Group during the third quarter worth about $30,000. American National Bank acquired a new position in Berry Global Group during the third quarter worth about $33,000. Brown Brothers Harriman & Co. acquired a new position in Berry Global Group during the first quarter worth about $38,000. Ronald Blue Trust Inc. acquired a new position in Berry Global Group during the second quarter worth about $40,000. Finally, Arlington Partners LLC acquired a new position in Berry Global Group during the second quarter worth about $46,000. Hedge funds and other institutional investors own 94.02% 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.