Berry Global Group Inc. (NYSE: BERY) stock jumped 2.43% on Friday to $55.65 against a previous-day closing price of $54.33. With 3.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.12 million shares. During the session, the Packaging & Containers company that operates in wider Consumer Cyclical sector, reached to the highest price of $56.03 whereas the lowest price it dropped to was $54.12. The 52-week range on BERY shows that it touched its highest point at $74.73 and its lowest point at $50.10 during that stretch. It currently has a 1-year price target of $71.35. Beta for the stock currently stands at 1.21.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BERY was down-trending over the past week, with a drop of -3.08%, but this was up by 2.24% over a month. Three-month performance dropped to -6.88% while six-month performance fell -17.32%. The stock lost -12.64% in the past year, while it has lost -24.57% so far this year. A look at the trailing 12-month EPS for BERY yields 5.40 with Next year EPS estimates of 7.91. For the next quarter, that number is 1.94. This implies an EPS growth rate of 28.10% for this year and 9.15% for next year. EPS is expected to grow by 11.13% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 22.90%.
Float and Shares Shorts:
At present, 133.80 million BERY shares are outstanding with a float of 130.12 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.91 million, which was 2.23% higher than short shares on Jun 14, 2022. In addition to Mr. Thomas E. Salmon as the firm’s CEO & Chairman, Mr. Mark W. Miles serves as its Chief Financial Officer.
Through their ownership of 98.68% of BERY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.99% of BERY, in contrast to 45.78% held by mutual funds. Shares owned by individuals account for 12.32%. As the largest shareholder in BERY with 12.10% of the stake, Edgepoint Investment Group, Inc. holds 15,771,557 shares worth 15,771,557. A second-largest stockholder of BERY, The Vanguard Group, Inc., holds 12,165,797 shares, controlling over 9.34% of the firm’s shares. Turtle Creek Asset Management, In is the third largest shareholder in BERY, holding 6,608,110 shares or 5.07% stake. With a 6.28% stake in BERY, the EdgePoint Global Portfolio is the largest stakeholder. A total of 8,175,715 shares are owned by the mutual fund manager. The Ontario Teachers Pension Plan, which owns about 4.10% of BERY stock, is the second-largest Mutual Fund holder. It holds 5,346,841 shares valued at 292.15 million. Vanguard Total Stock Market Index holds 2.95% of the stake in BERY, owning 3,848,293 shares worth 210.27 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BERY since 20 analysts follow the stock currently. There are 12 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BERY analysts setting a high price target of $82.00 and a low target of $61.00, the average target price over the next 12 months is $70.76. Based on these targets, BERY could surge 47.35% to reach the target high and rise by 9.61% to reach the target low. Reaching the average price target will result in a growth of 27.15% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BERY will report FY 2022 earnings on 11/17/2022. Analysts have provided yearly estimates in a range of $7.55 being high and $6.89 being low. For BERY, this leads to a yearly average estimate of $7.33. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Berry Global Group Inc. surprised analysts by $0.07 when it reported $2.03 EPS against a consensus estimate of $1.96. The surprise factor in the prior quarter was $0.14. Based on analyst estimates, the high estimate for the next quarter is $2.25 and the low estimate is $1.92. The average estimate for the next quarter is thus $2.16.
Summary of Insider Activity:
Insiders traded BERY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 67,410 while 67,410 shares were sold.