Berry Global Group, Inc. (NYSE:BERY) Director Sells $981,820.00 in Stock

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

Berry Global Group Trading Up 0.2 %

NYSE:BERY opened at $69.94 on Friday. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.10 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The company’s 50 day moving average price is $66.89 and its 200-day moving average price is $62.47. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $70.86.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the business posted $1.90 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal 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 issued a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.57%. Berry Global Group’s payout ratio is 26.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new stake in Berry Global Group during the 2nd quarter valued at $27,000. Quest Partners LLC increased its position in Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC lifted its holdings in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group in the second quarter worth about $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the 2nd quarter valued at about $44,000. Institutional investors own 95.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BERY. UBS Group lowered their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial increased their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.40.

Berry Global Group Company Profile

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.