Evan Bayh Sells 14,000 Shares of Berry Global Group, Inc. (NYSE:BERY) Stock

Berry Global Group, Inc. (NYSE:BERY) Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $70.30 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The stock has a 50 day simple moving average of $67.03 and a 200-day simple moving average of $62.54. The company has a market cap of $8.04 billion, a PE ratio of 16.70, a P/E/G ratio of 1.10 and a beta of 1.15. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $70.86.

Berry Global Group (NYSE:BERY) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, equities research analysts forecast that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.56%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new stake in Berry Global Group during the 2nd quarter valued at $27,000. Quest Partners LLC raised its stake in Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the period. LRI Investments LLC raised its stake in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group during the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group during the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analyst Ratings Changes

BERY has been the subject of a number of recent analyst reports. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Truist Financial lifted their price objective on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, UBS Group lowered their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.22.

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.