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. Its Consumer Packaging North America segment provides containers and pails for branded and private label customers; lightweight polypropylene cups and lids for hot and cold beverages; child-resistant, continuous-thread, and tamper closures, as well as aerosol overcaps; bottles and prescription vials; and extruded and laminate tubes. Its Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and agriculture films. Its Health, Hygiene & Specialties segment provides medical garment materials, surgical drapes, household cleaning wipes, and face masks for infection prevention; components for baby diapers, adult incontinence, and other absorbent hygiene products, elastic films and laminates, and substrates for dryer sheets; and products and components for geosynthetics and filtration products. The company sells its products through direct sales force of professionals and distributors in the United States, Canada, Europe, and internally. The company was formerly known as Berry Plastics Group, Inc. and changed its name to Berry Global Group, Inc. in April 2017. Berry Global Group, Inc. was founded in 1967 and is headquartered in Evansville, Indiana.
IPO Year: 2012
Exchange: NYSE
Website: berryglobal.com
Date | Price Target | Rating | Analyst |
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9/4/2024 | $76.00 | Equal-Weight | Morgan Stanley |
4/16/2024 | $68.00 → $65.00 | Outperform → Neutral | Robert W. Baird |
3/27/2024 | $75.00 → $68.00 | Buy → Hold | Truist |
3/15/2024 | $72.00 → $62.00 | Outperform → Sector Perform | RBC Capital Mkts |
3/1/2024 | Peer Perform | Wolfe Research | |
1/16/2024 | $89.00 | Buy | UBS |
10/20/2023 | Mkt Perform | Raymond James | |
5/24/2023 | $69.00 → $73.00 | Hold → Buy | Truist |
1/5/2023 | $70.00 | Buy → Hold | Truist |
7/20/2022 | $78.00 | Neutral → Outperform | Credit Suisse |
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8-K - BERRY GLOBAL GROUP, INC. (0001378992) (Filer)
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425 - BERRY GLOBAL GROUP, INC. (0001378992) (Filed by)
425 - BERRY GLOBAL GROUP, INC. (0001378992) (Filed by)
425 - BERRY GLOBAL GROUP, INC. (0001378992) (Filed by)
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8-K - BERRY GLOBAL GROUP, INC. (0001378992) (Filer)
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Morgan Stanley initiated coverage of Berry Global with a rating of Equal-Weight and set a new price target of $76.00
Robert W. Baird downgraded Berry Global from Outperform to Neutral and set a new price target of $65.00 from $68.00 previously
Truist downgraded Berry Global from Buy to Hold and set a new price target of $68.00 from $75.00 previously
RBC Capital Mkts downgraded Berry Global from Outperform to Sector Perform and set a new price target of $62.00 from $72.00 previously
Wolfe Research initiated coverage of Berry Global with a rating of Peer Perform
UBS resumed coverage of Berry Global with a rating of Buy and set a new price target of $89.00
Raymond James resumed coverage of Berry Global with a rating of Mkt Perform
Truist upgraded Berry Global from Hold to Buy and set a new price target of $73.00 from $69.00 previously
Truist downgraded Berry Global from Buy to Hold and set a new price target of $70.00
Credit Suisse upgraded Berry Global from Neutral to Outperform and set a new price target of $78.00
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Berry Global Group, Inc. (NYSE:BERY) announced today that James T. Glerum, Jr. has been appointed to its Board of Directors. Glerum, age 64, retired as Vice Chairman, Investment Banking at Citigroup in July 2024. Prior to joining Citigroup in 2011, Mr. Glerum held senior leadership positions in investment banking at UBS and Credit Suisse in Chicago and New York City. Over his 40-year investment banking career, Mr. Glerum executed more than 325 corporate finance and strategic transactions with an aggregate value of over $500 billion. Mr. Glerum's clients spanned multiple industry sectors, including manufacturing, healthcare, consumer and retail. Mr. Glerum serves on the board of trustees f
CHARLOTTE, N.C., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), and Berry Global Group, Inc. (NYSE:BERY) today announce additional director designees for the board of directors for the combined company. The new directors will be appointed and will begin serving as directors effective upon the closing of the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter. As previously disclosed, upon closing of the transaction, the combined company will be renamed Magnera Corporation ("Magnera"). The Magnera board of directors ("Magnera Board") will consist of nine directors, with five directors designated by Be
Third Quarter Highlights GAAP: Net sales of $3.2 billion; Operating income of $303 million; Earnings per share of $1.65 Non-GAAP: Operating EBITDA of $546 million; Adjusted earnings per share of $2.18 (up 16% vs PY) Third quarter volume and earning results in-line with expectations; +2% organic volume growth Continued progress in portfolio optimization; HHNF spin/merger on track Fiscal 2024 outlook: Adjusted EPS of $7.60 and free cash flow of $800-$900 million Kevin Kwilinski, Berry's CEO said, "Our strong financial results in the quarter were consistent with our expectations and our teams executed very well. Notably, we achieved a 2% increase in overall organic volumes, w
Berry Global Group, Inc.'s (NYSE:BERY) board of directors today declared a quarterly cash dividend of $0.275 per share. The payment date is September 17, 2024, to stockholders of record as of September 3, 2024. About Berry At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 40,000 global employees across more than 250 locations, we partner with cust
CHARLOTTE, N.C., July 24, 2024 (GLOBE NEWSWIRE) -- Berry Global Group, Inc. (NYSE: BERY) and Glatfelter Corporation (NYSE: GLT) announced that the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter progressed further today with the creation of the Magnera brand (pronounced ‘Mag-nair-uh'), a global leader in the specialty materials industry. The launch of this new identity marks the next chapter in the transaction journey, emphasizing a commitment to innovation and leadership in the specialty materials industry. Magnera will leverage a broad platform of 46 global manufacturing facilities, offering its customers innovative
Berry Global Group, Inc. (NYSE:BERY) and Glatfelter Corporation (NYSE:GLT) announced that the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter progressed further today with the creation of the Magnera brand (pronounced ‘Mag-nair-uh'), a global leader in the specialty materials industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240724278174/en/ The launch of this new identity marks the next chapter in the transaction journey, emphasizing a commitment to innovation and leadership in the specialty materials industry. Magnera will leverage a broad platform
Translucent Twist pints are widely recyclable and showcase uniquely layered fun-filled flavors Global packaging leader, Berry Global Group, Inc. (NYSE:BERY), worked with U.S.-based ice cream manufacturer, Wells Enterprises, Inc., to expand its Twist Cones frozen treat line into single-serve, freezer-grade Twist pints for Blue Bunny. The new pints, which offer a new twist on soft serve, are currently available at retailers across the U.S., including Walmart, Kroger, Food Lion, Albertson's, Safeway, and Publix. Made with widely recyclable polypropylene (PP) and a high-density polyethylene (HDPE) lid, the new Twist pints improve the recyclability of traditional ice-cream packaging, which i
Berry Global Group, Inc. (NYSE:BERY), announced today that it will release its third fiscal quarter 2024 results on Friday, August 2, 2024, before trading begins on the New York Stock Exchange. At 10 a.m. Eastern Time on that day, Berry will hold its quarterly conference call on the Company's results and performance. This call will be webcast live at the Company's website at https://ir.berryglobal.com/financials. A new, simplified event registration and access provides two ways to access the call. By Telephone Participants may register for the call here now or any time up to and during the time of the call, and will immediately receive the dial-in number and a unique pin to access the
Berry Global Group, Inc. (NYSE:BERY) and Glatfelter Corporation (NYSE:GLT) announced today the achievement of an additional regulatory milestone in the proposed transaction involving the combination of a majority of Berry's Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business ("HHNF") with Glatfelter. In addition to the previously announced expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act, the parties have now received all other approvals and clearances under competition and foreign direct investment laws which were conditions to the consummation of the transaction. As previously announced on Febru
Berry Global Group, Inc. (NYSE:BERY) ("Berry"), a leading supplier of packaging solutions for consumer goods and industrial products, announced today the consideration payable as set forth in the table below in respect of the previously announced tender offer (the "Tender Offer") by Berry Global, Inc., its wholly owned subsidiary (the "Company") to purchase for cash its outstanding 4.875% First Priority Senior Secured Notes due 2026 (the "Notes"). The consideration of $987.19 per $1,000 principal amount (the "Early Tender Consideration") for Notes that were validly tendered at or prior to the Early Tender Time (as defined below) and are accepted for purchase pursuant to the Tender Offer w
Third Quarter Highlights GAAP: Net sales of $3.2 billion; Operating income of $303 million; Earnings per share of $1.65 Non-GAAP: Operating EBITDA of $546 million; Adjusted earnings per share of $2.18 (up 16% vs PY) Third quarter volume and earning results in-line with expectations; +2% organic volume growth Continued progress in portfolio optimization; HHNF spin/merger on track Fiscal 2024 outlook: Adjusted EPS of $7.60 and free cash flow of $800-$900 million Kevin Kwilinski, Berry's CEO said, "Our strong financial results in the quarter were consistent with our expectations and our teams executed very well. Notably, we achieved a 2% increase in overall organic volumes, w
Berry Global Group, Inc.'s (NYSE:BERY) board of directors today declared a quarterly cash dividend of $0.275 per share. The payment date is September 17, 2024, to stockholders of record as of September 3, 2024. About Berry At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 40,000 global employees across more than 250 locations, we partner with cust
Berry Global Group, Inc. (NYSE:BERY), announced today that it will release its third fiscal quarter 2024 results on Friday, August 2, 2024, before trading begins on the New York Stock Exchange. At 10 a.m. Eastern Time on that day, Berry will hold its quarterly conference call on the Company's results and performance. This call will be webcast live at the Company's website at https://ir.berryglobal.com/financials. A new, simplified event registration and access provides two ways to access the call. By Telephone Participants may register for the call here now or any time up to and during the time of the call, and will immediately receive the dial-in number and a unique pin to access the
Second Quarter Highlights GAAP: Net sales of $3.1 billion; Operating income of $208 million; Earnings per share of $0.98 Non-GAAP: Operating EBITDA of $522 million; Adjusted earnings per share of $1.95 Second quarter volume and earning results in-line with expectations; Strong April volumes provides confidence for low-single digit volume growth outlook in 2H Increased cost savings program target by 18% or an additional $25 million Continued progress in portfolio optimization with two divestitures closed; proceeds could exceed $2 billion in cash from strategic divestitures over the next year ($1 billion from previously announced merger and $1 billion from future portfolio opti
Berry Global Group, Inc.'s (NYSE:BERY) board of directors today declared a quarterly cash dividend of $0.275 per share. The payment date is June 17, 2024, to stockholders of record as of June 3, 2024. About Berry At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 40,000 global employees across more than 250 locations, we partner with customers to d
NEW YORK, April 17, 2024 /PRNewswire/ -- NewHold Enterprises, an operationally focused investment firm, is pleased to announce the sale of F&S Tool, a leading North American designer and manufacturer of precision injection molding tools, to Berry Global Group, Inc. (NYSE:BERY). F&S Tool operates a 90,000 square foot facility located in Erie, Pennsylvania, with 11 issued/pending patents and 105 employees focused on proprietary technologies to serve a large and diverse addressable market. The sale was completed on April 05, 2024. NewHold Enterprises announces the sale of F&S To
Berry Global Group, Inc. (NYSE:BERY), announced today that it will release its second fiscal quarter 2024 results on Thursday, May 9, 2024, before trading begins on the New York Stock Exchange. At 10 a.m. Eastern Time on that day, Berry will hold its quarterly conference call on the Company's results and performance. This call will be webcast live at the Company's website at https://ir.berryglobal.com/financials. A new, simplified event registration and access provides two ways to access the call. By Telephone Participants may register for the call here now or any time up to and during the time of the call, and will immediately receive the dial-in number and a unique pin to access the
First Quarter Highlights GAAP: Net sales of $2.9 billion; Operating income of $157 million; Earnings per share of $0.50 Non-GAAP: Operating EBITDA of $431 million; Adjusted earnings per share of $1.22 Fiscal 2024 outlook: Reaffirmed adjusted EPS guidance of $7.35 - $7.85 and free cash flow of $800 - $900 million Announced plans for a tax-free spin-off and merger of the majority of our HH&S segment to include its global nonwovens and films business with Glatfelter, creating a global specialty materials leader, in a transaction expected to be valued at $3.6 billion Kevin Kwilinski, Berry's CEO said, "Berry delivered a solid first quarter result, in line with our expectations, a
Combination creates a large-scale global franchise with an industry-leading solution set serving attractive, growing specialty materials markets Establishes leading positions in the high value-added categories within the specialty materials industry, served by differentiated innovation capabilities Transaction values the combined company at $3.6 billion on an enterprise value basis, with pro forma revenue of ~$3.6 billion and Adj. EBITDA (1) of ~$455 million Berry and Glatfelter shareholders to own 90% and 10% of the combined company, respectively. Berry to receive an approximate net $1 billion cash distribution at closing Enhances earnings power with secular rebound and expected co
Berry Global Group, Inc.'s (NYSE:BERY) board of directors today declared a quarterly cash dividend of $0.275 per share. The payment date is March 15, 2024, to stockholders of record as of March 1, 2024. About Berry At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging and engineered products that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry leading talent of over 40,000 global employees across over 250 locations, we partner with cus
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~ Kevin M. Fogarty to serve as Non-Executive Chair of the Board of Directors for the proposed newly combined company ~ James M. Till to serve as Executive Vice President, Chief Financial Officer & Treasurer ~ Tarun Manroa to serve as Executive Vice President, Chief Operating Officer CHARLOTTE, N.C., April 11, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE:GLT), a leading global supplier of engineered materials, in anticipation of the previously announced proposed merger of the majority of Berry Global's Health, Hygiene, and Specialties segment to include its Global Nonwovens and Films ("HHNF") business with Glatfelter, is pleased to announce today key leadership appointments, in
Tom Salmon to Remain in Advisory Role Through Year-End Stephen Sterrett, Lead Independent Director, Named Chairman of the Board Berry Global Group, Inc. (NYSE:BERY) ("Berry" or the "Company"), a leading supplier of packaging solutions for consumer goods and industrial products, today announced that its Board of Directors (the "Board") has unanimously elected Kevin Kwilinski as Chief Executive Officer of Berry, effective October 2, 2023. In connection with this appointment, the Board has elected Stephen Sterrett, Lead Independent Director, as Chairman of the Board, also effective on October 2, 2023. As previously announced in February 2023, Tom Salmon will retire from his roles as CEO an
Matthews' appointment bolsters Berry's global commitment to centering D&I as a strategic priority Berry Global Group, Inc. (NYSE:BERY), recently announced the appointment of Anastasia Matthews to the role of Vice President – Global Diversity & Inclusion/Corporate Human Resources. In her new role, Matthews is leading Berry's Executive D&I Council and D&I Global Workgroup in the development and execution of an updated diversity and inclusion strategy. This strategy will seek to advance the company's commitment to fostering an environment that is inclusive of a broad range of cultures, backgrounds, and experiences represented among its employees, customers, and suppliers. This press release f
Enters Into Cooperation Agreement with Shareholders Ancora and Eminence Capital Berry Global Group, Inc. (NYSE:BERY) ("Berry" or the "Company"), a leading supplier of packaging solutions for consumer goods and industrial products, today announced the appointments of three new independent members of the Company's Board of Directors (the "Board") and the formation of a Capital Allocation Committee. In connection with these enhancements, which align with Berry's ongoing focus on Board refreshment and maintaining strong governance, the Company also entered into a mutual cooperation agreement (the "Agreement") with shareholders Ancora Holdings Group, LLC ("Ancora") and Eminence Capital, L.P. ("
Berry Global Group, Inc. (NYSE:BERY) and Glatfelter Corporation (NYSE:GLT) announced that the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter progressed further today with the creation of the Magnera brand (pronounced ‘Mag-nair-uh'), a global leader in the specialty materials industry.
UBS analyst Joshua Spector maintains Berry Global Gr (NYSE:BERY) with a Buy and lowers the price target from $89 to $77.
The closing of the private placement offering is expected to occur on or about May 28, 2024, subject to the satisfaction of customary closing conditions. The Notes will bear interest at a rate of 5.800%, payable semiannually, in cash in arrears, on June 15 and December 15 of each year, commencing on December 15, 2024. The Notes will mature on June 15, 2031.
B of A Securities analyst George Staphos maintains Berry Global Gr (NYSE:BERY) with a Buy and raises the price target from $74 to $81.
Berry Global Group, Inc. (NYSE:BERY) shares are trading lower on Thursday. The company reported second-quarter adjusted earnings per share of $1.95, beating the street view of $1.91. Quarterly revenues of $3.076 billion missed the analyst consensus of $3.155 billion. Net sales decreased 6% year over year as the pass-through of lower resin prices had a 5% negative impact. Volumes declined 2%, which was in line with the company’s expectations, and all four operating segments showed sequential volume improvement over the first quarter. Operating income declined compared to the prior year quarter, reaching $208 million from $301 million. The decrease was primarily attributable t
The sale was completed on April 05, 2024.
Berry Global Group, Inc. (NYSE:BERY) and Glatfelter Corporation (NYSE:GLT) announced today the achievement of a regulatory milestone in the proposed transaction involving the combination of a majority of Berry's Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business ("HHNF") with Glatfelter, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. As previously announced on February 7, 2024, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction will create a leading, pu