Berry Global Group (NYSE:BERY) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Monday. The brokerage issued a buy rating on the industrial products company’s stock.

BERY has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup restated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Barclays boosted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Truist Financial raised their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Performance

Shares of BERY stock opened at $70.65 on Monday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. Berry Global Group has a one year low of $55.24 and a one year high of $74.24. The company’s 50-day moving average is $69.85 and its 200 day moving average is $68.53.

Berry Global Group (NYSE:BERY) last announced its quarterly 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. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. Sell-side analysts expect that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio is presently 30.92%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after purchasing an additional 8,622 shares in the last quarter. Hancock Whitney Corp bought a new stake in shares of Berry Global Group during the 3rd quarter valued at $1,065,000. Integrated Investment Consultants LLC purchased a new position in shares of Berry Global Group during the 3rd quarter valued at $714,000. Finally, Barclays PLC boosted its holdings in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after buying an additional 47,476 shares during the period. Institutional investors own 95.36% of the company’s stock.

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.