Loading...
Docoh

Berry Global (BERY)

Berry Global Group, Inc. creates innovative packaging and engineered products that it believes make life better for people and the planet. The Company does this every day by leveraging its unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in its diversity and industry leading talent of 47,000 global employees across more than 295 locations, it partners with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges its solve and the innovations its pioneer benefit its customers at every stage of their journey.

Company profile

Ticker
BERY
Exchange
CEO
Thomas Salmon
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
BERRY GLOBAL GROUP INC, BERRY PLASTICS GROUP INC
SEC CIK
Subsidiaries
159422 Canada Inc. • Ace Classic Medical Components (Shanghai) Company Limited • Ace Corporation Holdings Limited • Ace Industrial Technologies Limited • Ace Medical Components Co Limited • Ace Mold (HeFei) Company Limited • Ace Mold (Shanghai) Company Limited • Ace Mold (Zhuhai) Company Limited • Ace Mold Company Limited • Ace Mold Industrial (Shanghai) Company Limited ...

BERY stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$73.50
Low target
$69.00
High target
$78.00
Mizuho
Maintains
Neutral
$69.00
4 Aug 22
Credit Suisse
Upgraded
Outperform
$78.00
20 Jul 22

Calendar

4 Aug 22
28 Sep 22
2 Oct 22
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Oct 21 Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 527M 527M 527M 527M 527M 527M
Cash burn (monthly) 31.67M 23.08M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 91.38M 66.61M n/a n/a n/a n/a
Cash remaining 435.62M 460.39M n/a n/a n/a n/a
Runway (months of cash) 13.8 19.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Aug 22 Salmon Tom Common Stock Sell Dispose S No No 16 24,207 387.31K 66,193
26 Aug 22 Salmon Tom Common Stock Option exercise Acquire M No No 16 44,815 717.04K 90,400
26 Aug 22 Salmon Tom Employee Stock Option Common Stock Option exercise Acquire M No No 16 44,815 717.04K 1,925,328
29 Dec 21 Curt Begle Common Stock Sell Dispose S Yes Yes 73.99 14,000 1.04M 28,500
29 Dec 21 Curt Begle Common Stock Option exercise Acquire M No No 29.59 14,000 414.26K 14,000
29 Dec 21 Curt Begle Employee Stock Option Common Stock Option exercise Dispose M No No 29.59 14,000 414.26K 353,483
7 Dec 21 Curt Begle Common Stock Sell Dispose S Yes Yes 71.99 14,000 1.01M 28,500
7 Dec 21 Curt Begle Common Stock Option exercise Acquire M No No 29.59 14,000 414.26K 14,000
7 Dec 21 Curt Begle Employee Stock Option Common Stock Option exercise Dispose M No No 29.59 14,000 414.26K 367,483
26 Nov 21 Sterrett Stephen E Director Stock Option Common Stock Grant Acquire A No No 66.47 3,497 232.45K 66,997
88.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 333 356 -6.5%
Opened positions 40 64 -37.5%
Closed positions 63 89 -29.2%
Increased positions 106 120 -11.7%
Reduced positions 140 127 +10.2%
13F shares Current Prev Q Change
Total value 6.56B 7.18B -8.7%
Total shares 119.87M 123.89M -3.2%
Total puts 340.8K 520.9K -34.6%
Total calls 168.2K 111.4K +51.0%
Total put/call ratio 2.0 4.7 -56.7%
Largest owners Shares Value Change
EdgePoint Investment 16.08M $878.55M +1.9%
Vanguard 12.02M $656.78M -2.7%
Turtle Creek Asset Management 6.52M $356.36M -1.3%
BLK Blackrock 5.19M $283.68M +1.1%
LSV Asset Management 4.42M $241.63M -4.2%
Fuller & Thaler Asset Management 4.16M $227.05M -8.7%
Ontario Teachers Pension Plan Board 3.7M $202.12M -29.0%
Massachusetts Financial Services 3.43M $187.44M +2.8%
FMR 3.21M $175.66M -0.2%
Canyon Capital Advisors 2.76M $150.55M -3.0%
Largest transactions Shares Bought/sold Change
Ontario Teachers Pension Plan Board 3.7M -1.51M -29.0%
Adage Capital Partners GP, L.L.C. 0 -650K EXIT
Allspring Global Investments 1.15M -627.02K -35.2%
Bamco 0 -550K EXIT
Alliancebernstein 2.2M +446.49K +25.5%
BAC Bank Of America 1.3M -397.94K -23.5%
Fuller & Thaler Asset Management 4.16M -395.31K -8.7%
Victory Capital Management 349.46K +332.62K +1975.2%
Vanguard 12.02M -329.69K -2.7%
EdgePoint Investment 16.08M +307.32K +1.9%

Financial report summary

?
Competition
Jabil
Risks
  • Raw material inflation or shortage of available materials could harm our financial condition and results of operations.
  • We may not be able to compete successfully and our customers may not continue to purchase our products.
  • We may pursue and execute acquisitions or divestitures, which could adversely affect our business.
  • In the event of a catastrophic loss of one of our key manufacturing facilities, our business would be adversely affected.
  • Employee retention, labor cost inflation or the failure to renew collective bargaining agreements could disrupt our business.
  • We depend on information technology systems and infrastructure to operate our business, and increased cybersecurity threats, system inadequacies, and failures could disrupt our operations, compromise customer, employee, vendor and other data which could negatively affect our business.
  • Financial and Legal Risks
  • Our substantial indebtedness could affect our ability to meet our obligations and may otherwise restrict our activities.
  • Goodwill and other intangibles represent a significant amount of our net worth, and a future write-off could result in lower reported net income and a reduction of our net worth.
  • Our international operations pose risks to our business that may not be present with our domestic operations.
  • Current and future environmental and other governmental requirements could adversely affect our financial condition and our ability to conduct our business.
  • Changes in tax laws or changes in our geographic mix of earnings could have a material impact on our financial condition and results of operation.
  • We may not be successful in protecting our intellectual property rights, including our unpatented proprietary know-how and trade secrets, or in avoiding claims that we infringed on the intellectual property rights of others.
Management Discussion
  • Business integration expenses consist of restructuring and impairment charges, divestiture related costs, and other business optimization costs.  Tables present dollars in millions.
  • Net Sales:  The net sales growth is primarily attributed to increased selling prices of $301 million due to the pass through of inflation.  This increase was partially offset by an organic volume decline of 2%, a $151 million unfavorable impact from foreign currency changes, and Prior Quarter divestiture sales of $16 million.  The volume decline is primarily attributed to general market softness in industrial markets and the moderation of advantaged products related to the COVID-19 pandemic.
  • Cost of goods sold:  The cost of goods sold increase is attributed to inflation, partially offset by the volume decline, a decrease from foreign currency changes, and Prior Quarter divestiture cost of goods sold of $12 million.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: inventory, QTD, recovering, rotational, settle, settled

Patents

Utility
Pediatric dosing dispenser
27 Sep 22
A package that is configured to store and dispense fluids.
Utility
Selectively openable closure for a container
27 Sep 22
A closure for a container, and more specifically a closure that is selectively openable and/or lockable providing, for example, one or more child resistant opening features is disclosed.
Utility
Absorbent Composites
22 Sep 22
Absorbent composite are provided that include a nonwoven top layer having hydrophilic fibers and an absorbent core directly or indirectly attached to the nonwoven top layer, the absorbent core comprising a plurality of layers including (i) at least one physically entangled nonwoven layer, and (ii) at least one bonded carded nonwoven layer and/or at least one thermal bonded high-loft nonwoven layer, in which the absorbent composite includes (i) a composite-rate of absorption of less than 8 seconds for a 5 ml liquid sample as determined by D824-94, and (ii) a composite-run-off value of less than 15% as determined by ISO 9073-11.
Utility
Multi-component fibers with improved inter-component adhesion
20 Sep 22
Nonwoven fabrics are provided that include at least a first nonwoven layer.
Utility
Microfiber-containing nonwoven fabrics
13 Sep 22
Nonwoven fabrics including (i) continuous fibers and (ii) a blend of staple fibers comprising polyester staple fibers, bicomponent staple fibers, microfiber staple fibers, and wettable staple fibers, in which the continuous fibers are mechanically entangled with the blend of staple fibers.