Berry Global Group Inc. [NYSE: BERY] stock went on an upward path that rose over 0.79% on Friday, amounting to a one-week price decrease of less than -0.15%. The company report on June 9, 2021 that Berry Global Group, Inc. Announces Pricing of Private Placement Notes Offering.
Berry Global Group, Inc. (NYSE: BERY) (“Berry”) announced the pricing of a private placement launched June 8, 2021, by its wholly owned subsidiary, Berry Global, Inc. (the “Issuer”). The Issuer will issue $400,000,000 of first priority senior secured notes due 2027 (the “Notes”). The closing of the private placement offering is expected to occur on or about June 14, 2021.
The Notes will bear interest at a rate of 1.65%, payable semiannually, in cash in arrears, on January 15 and July 15 of each year, commencing on January 15, 2022. The Notes will mature on January 15, 2027.
Over the last 12 months, BERY stock rose by 46.55%. The one-year Berry Global Group Inc. stock forecast points to a potential upside of 18.26. The average equity rating for BERY stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.83 billion, with 134.30 million shares outstanding and 133.82 million shares in the current float. Compared to the average trading volume of 959.46K shares, BERY stock reached a trading volume of 663955 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Berry Global Group Inc. [BERY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BERY shares is $80.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BERY stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Berry Global Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 09, 2021. While these analysts kept the previous recommendation, Seaport Global Securities raised their target price to Buy. The new note on the price target was released on October 14, 2020, representing the official price target for Berry Global Group Inc. stock. Previously, the target price had yet another raise to $70, while UBS analysts kept a Buy rating on BERY stock.
The Average True Range (ATR) for Berry Global Group Inc. is set at 1.21, with the Price to Sales ratio for BERY stock in the period of the last 12 months amounting to 0.71. The Price to Book ratio for the last quarter was 3.35, with the Price to Cash per share for the same quarter was set at 6.30.
BERY Stock Performance Analysis:
Berry Global Group Inc. [BERY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.15. With this latest performance, BERY shares dropped by -3.52% in over the last four-week period, additionally plugging by 17.44% over the last 6 months – not to mention a rise of 46.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BERY stock in for the last two-week period is set at 51.12, with the RSI for the last a single of trading hit 54.24, and the three-weeks RSI is set at 51.13 for Berry Global Group Inc. [BERY]. The present Moving Average for the last 50 days of trading for this stock 66.47, while it was recorded at 65.48 for the last single week of trading, and 57.59 for the last 200 days.
Insight into Berry Global Group Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Berry Global Group Inc. [BERY] shares currently have an operating margin of +10.74 and a Gross Margin at +18.00. Berry Global Group Inc.’s Net Margin is presently recorded at +4.77.
Return on Total Capital for BERY is now 9.72, given the latest momentum, and Return on Invested Capital for the company is 4.37. Return on Equity for this stock inclined to 30.13, with Return on Assets sitting at 3.31. When it comes to the capital structure of this company, Berry Global Group Inc. [BERY] has a Total Debt to Total Equity ratio set at 517.02. Additionally, BERY Total Debt to Total Capital is recorded at 83.79, with Total Debt to Total Assets ending up at 62.63. Long-Term Debt to Equity for the company is recorded at 507.93, with the Long-Term Debt to Total Capital now at 82.32.
Reflecting on the efficiency of the workforce at the company, Berry Global Group Inc. [BERY] managed to generate an average of $11,894 per employee. Receivables Turnover for the company is 7.82 with a Total Asset Turnover recorded at a value of 0.69.Berry Global Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.
BERY Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BERY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Berry Global Group Inc. go to 12.66%.
Berry Global Group Inc. [BERY] Insider Position Details
There are presently around $8,611 million, or 97.80% of BERY stock, in the hands of institutional investors. The top three institutional holders of BERY stocks are: EDGEPOINT INVESTMENT GROUP INC. with ownership of 16,343,964, which is approximately 4.238% of the company’s market cap and around 0.17% of the total institutional ownership; VANGUARD GROUP INC, holding 12,205,251 shares of the stock with an approximate value of $805.42 million in BERY stocks shares; and BLACKROCK INC., currently with $396.32 million in BERY stock with ownership of nearly 6.157% of the company’s market capitalization.
Positions in Berry Global Group Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 198 institutional holders increased their position in Berry Global Group Inc. [NYSE:BERY] by around 14,728,559 shares. Additionally, 169 investors decreased positions by around 15,549,543 shares, while 46 investors held positions by with 100,204,532 shares. The mentioned changes placed institutional holdings at 130,482,634 shares, according to the latest SEC report filing. BERY stock had 64 new institutional investments in for a total of 3,688,172 shares, while 37 institutional investors sold positions of 1,210,191 shares during the same period.