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Berry Global Group Inc. (BERY) – Don’t Believe the Hype: Check The Facts

467 institutions hold shares in Berry Global Group Inc. (BERY), with 196.98k shares held by insiders accounting for 0.15% while institutional investors hold 99.69% of the company’s shares. The shares outstanding are 133.60M, and float is at 131.51M with Short Float at 2.90%. Institutions hold 99.55% of the Float.

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The top institutional shareholder in the company is Edgepoint Investment Group Inc. with over 15.68 million shares valued at $881.03 million. The investor’s holdings represent 11.71% of the BERY Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 11.85 million shares valued at $665.9 million to account for 8.85% of the shares outstanding. The other top investors are Eminence Capital, LP which holds 6.54 million shares representing 4.88% and valued at over $367.47 million, while Blackrock Inc. holds 4.23% of the shares totaling 5.66 million with a market value of $317.89 million.

Berry Global Group Inc. (NYSE: BERY) is 12.81% higher on its value in year-to-date trading and has touched a low of $36.38 and a high of $63.68 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BERY stock was last observed hovering at around $62.00 in the last trading session, with the day’s gains setting it 1.39% off its average median price target of $73.00 for the next 12 months. It is also 26.29% off the consensus price target high of $86.00 offered by 17 analysts, but current levels are 2.48% higher than the price target low of $65.00 for the same period.

Currently trading at $63.39, the stock is 1.75% and 5.29% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.92 million and changing 2.24% at the moment leaves the stock 17.40% off its SMA200. BERY registered 55.79% gain for a year compared to 6-month gain of 34.39%. The firm has a 50-day simple moving average (SMA 50) of $61.42 and a 200-day simple moving average (SMA200) of $55.54.

The stock witnessed a 2.27% loss in the last 1 month and extending the period to 3 months gives it a 27.85%, and is 1.73% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.06% over the week and 1.84% over the month.

Berry Global Group Inc. (BERY) has around 47000 employees, a market worth around $8.46B and $12.03B in sales. Current P/E ratio is 13.38 and Fwd P/E is 10.57. Distance from 52-week low is 74.22% and -0.46% from its 52-week high. The company has generated returns on investments over the last 12 months (8.30%).

Berry Global Group Inc. (BERY) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Berry Global Group Inc. (BERY) is a “Buy”. 17 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 2 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Berry Global Group Inc. is expected to release its quarterly report on 07/30/2021 and quarterly earnings per share for the current quarter are estimated at $1.3 with sales reaching $3.19B over the same period.The EPS is expected to grow by 37.90% this year, but quarterly earnings will post 7.80% year-over-year. Quarterly sales are estimated to grow 7.10% in year-over-year returns.

Berry Global Group Inc. (BERY) Insider Activity

A total of 16 insider transactions have happened at Berry Global Group Inc. (BERY) in the last six months, with sales accounting for 8 and purchases happening 8 times. The most recent transaction is an insider sale by Greene Jason K., the company’s EVP – Chief Legal Officer. SEC filings show that Greene Jason K. sold 15,000 shares of the company’s common stock on Mar 24 at a price of $63.00 per share for a total of $0.94 million. Following the sale, the insider now owns 250.0 shares.

Berry Global Group Inc. disclosed in a document filed with the SEC on Mar 23 that Begle Curt (President) sold a total of 18,000 shares of the company’s common stock. The trade occurred on Mar 23 and was made at $62.00 per share for $1.12 million. Following the transaction, the insider now directly holds 28500.0 shares of the BERY stock.

Still, SEC filings show that on Feb 09, Greene Jason K. (EVP – Chief Legal Officer) disposed off 15,000 shares at an average price of $60.00 for $0.9 million. The insider now directly holds 250 shares of Berry Global Group Inc. (BERY).

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Berry Global Group Inc. (BERY): Who are the competitors?

The company’s main competitors (and peers) include AptarGroup Inc. (ATR) that is trading 37.10% up over the past 12 months. Tredegar Corporation (TG) is 21.60% up on the 1-year trading charts. Short interest in the company’s stock has risen 20.08% from the last report on Apr 14, 2021 to stand at a total of 3.82 million short shares sold with a short interest ratio of 3.42.

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