Berry Global Group (NYSE:BERY) Reaches New 52-Week High at $63.42


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Berry Global Group, Inc. (NYSE:BERY)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $63.42 and last traded at $63.30, with a volume of 1453 shares traded. The stock had previously closed at $62.91.

Several research firms have recently issued reports on BERY. BMO Capital Markets lifted their price target on Berry Global Group from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, February 8th. Citigroup lifted their price objective on Berry Global Group from $67.00 to $70.00 in a research report on Tuesday, February 9th. The Goldman Sachs Group started coverage on Berry Global Group in a research report on Friday, April 9th. They set a “buy” rating and a $75.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on Berry Global Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, February 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Berry Global Group presently has an average rating of “Buy” and an average target price of $64.50.

The company has a debt-to-equity ratio of 4.86, a quick ratio of 1.17 and a current ratio of 1.75. The company has a market cap of $8.35 billion, a PE ratio of 15.03, a PEG ratio of 1.00 and a beta of 1.37. The firm has a fifty day simple moving average of $59.76 and a 200 day simple moving average of $54.50.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Thursday, February 4th. The industrial products company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.94 by $0.18. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Berry Global Group had a return on equity of 35.39% and a net margin of 4.77%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, equities analysts predict that Berry Global Group, Inc. will post 5.35 EPS for the current fiscal year.

In other news, President Curt Begle sold 18,000 shares of Berry Global Group stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $59.00, for a total value of $1,062,000.00. Following the transaction, the president now directly owns 18,000 shares of the company’s stock, valued at approximately $1,062,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jason K. Greene sold 15,000 shares of Berry Global Group stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $63.00, for a total value of $945,000.00. Following the completion of the transaction, the executive vice president now directly owns 15,250 shares in the company, valued at $960,750. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock worth $4,023,000 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Tennessee Treasury Department acquired a new position in Berry Global Group during the 3rd quarter worth approximately $207,000. AQR Capital Management LLC lifted its position in Berry Global Group by 1,728.3% during the 3rd quarter. AQR Capital Management LLC now owns 188,191 shares of the industrial products company’s stock worth $9,073,000 after acquiring an additional 177,898 shares in the last quarter. California State Teachers Retirement System lifted its position in Berry Global Group by 1.9% during the 3rd quarter. California State Teachers Retirement System now owns 233,792 shares of the industrial products company’s stock worth $11,297,000 after acquiring an additional 4,382 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Berry Global Group during the 3rd quarter worth approximately $1,119,000. Finally, Public Employees Retirement System of Ohio lifted its position in Berry Global Group by 137.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 117,148 shares of the industrial products company’s stock worth $5,661,000 after acquiring an additional 67,807 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Company Profile (NYSE:BERY)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. Its Consumer Packaging International segment offers closures, dispensing systems, and applicators; inhalers and dose counters; polythene films; packaging solutions for consumer and industrial applications in personal care, beverage, and food markets; injection molded and thermoformed containers, and lids; and molds and molded components, as well as recycles rigid and flexible end of life materials from industrial and consumer sources.

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