Insider Buying: Berry Global Group, Inc. (NYSE:BERY) Director Purchases 2,000 Shares of Stock

Berry Global Group, Inc. (NYSE:BERYGet Free Report) Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Berry Global Group Trading Up 5.5 %

NYSE BERY opened at $59.01 on Friday. Berry Global Group, Inc. has a 1-year low of $53.83 and a 1-year high of $69.93. The company has a current ratio of 0.36, a quick ratio of 1.10 and a debt-to-equity ratio of 2.79. The stock has a 50-day moving average of $66.05 and a 200-day moving average of $63.03. The firm has a market cap of $6.84 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.75 and a beta of 1.29.

Berry Global Group (NYSE:BERYGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) 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 business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Berry Global Group, Inc. will post 7.59 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.275 dividend. The ex-dividend date is Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.86%. Berry Global Group’s dividend payout ratio is currently 23.66%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BERY shares. Wells Fargo & Company raised their price target on Berry Global Group from $72.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, December 18th. Truist Financial raised their price target on Berry Global Group from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Jefferies Financial Group lowered their price target on Berry Global Group from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Royal Bank of Canada lowered their price target on Berry Global Group from $78.00 to $74.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 21st. Finally, Mizuho lowered their price target on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.

View Our Latest Research Report on BERY

Institutional Trading of Berry Global Group

A number of hedge funds have recently made changes to their positions in BERY. TD Asset Management Inc lifted its position in Berry Global Group by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 25,474 shares of the industrial products company’s stock valued at $1,639,000 after acquiring an additional 832 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in Berry Global Group by 23.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,287 shares of the industrial products company’s stock valued at $662,000 after acquiring an additional 1,967 shares in the last quarter. Sigma Planning Corp bought a new position in Berry Global Group in the 3rd quarter valued at approximately $315,000. Teacher Retirement System of Texas lifted its position in Berry Global Group by 67.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 81,793 shares of the industrial products company’s stock valued at $5,064,000 after acquiring an additional 32,801 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Berry Global Group by 91.7% during the 2nd quarter. BlackRock Inc. now owns 10,384,657 shares of the industrial products company’s stock valued at $668,149,000 after buying an additional 4,968,179 shares during the period. 98.25% of the stock is owned by institutional investors.

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.

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Insider Buying and Selling by Quarter for Berry Global Group (NYSE:BERY)

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