Insider Buying: Berry Global Group, Inc. (NYSE:BERY) Director Acquires $59,500.00 in Stock

Berry Global Group, Inc. (NYSE:BERY) Director Peter T. Thomas bought 1,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the completion of the purchase, the director now directly owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Berry Global Group Trading Up 1.4 %

Shares of BERY stock opened at $59.42 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64. Berry Global Group, Inc. has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The firm’s 50 day moving average price is $58.84 and its two-hundred day moving average price is $61.86. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.24.

Berry Global Group (NYSE:BERY) last posted its earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.05. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business posted $1.96 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that Berry Global Group, Inc. will post 7.42 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.85%. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

Institutional Investors Weigh In On Berry Global Group

Several hedge funds have recently modified their holdings of BERY. Louisiana State Employees Retirement System acquired a new stake in Berry Global Group in the fourth quarter valued at approximately $2,237,000. Teachers Retirement System of The State of Kentucky grew its holdings in Berry Global Group by 96.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock valued at $2,488,000 after purchasing an additional 19,674 shares in the last quarter. South Dakota Investment Council purchased a new stake in Berry Global Group during the 4th quarter worth $2,508,000. AQR Capital Management LLC lifted its holdings in Berry Global Group by 2.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after buying an additional 22,137 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Berry Global Group by 67.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock valued at $6,049,000 after buying an additional 39,200 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BERY has been the subject of a number of recent analyst reports. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Robert W. Baird restated a “neutral” rating and issued a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Bank of America increased their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 10th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, Truist Financial reaffirmed a “hold” rating and set a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.60.

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.