Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research note published on Wednesday. The firm issued a buy rating on the industrial products company’s stock.

BERY has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and an average target price of $73.30.

Berry Global Group Stock Performance

NYSE BERY opened at $71.37 on Wednesday. The firm has a market cap of $8.26 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.45 and a beta of 1.15. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The business’s 50-day moving average price is $67.46 and its 200 day moving average price is $67.20. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08.

Berry Global Group (NYSE:BERY) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 26.32% and a net margin of 4.21%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $1.22 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Berry Global Group will post 6.31 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.74%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

Institutional Investors Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 306 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after buying an additional 876 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Berry Global Group during the 3rd quarter valued at $75,000. GAMMA Investing LLC grew its holdings in Berry Global Group by 332.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after buying an additional 908 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Berry Global Group during the third quarter worth $152,000. 95.36% of the stock is owned by institutional investors and hedge funds.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.