Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

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

Several other brokerages have also commented on BERY. Truist Financial lifted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. UBS Group upped their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays boosted their price objective on 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Up 1.2 %

BERY stock opened at $70.03 on Tuesday. The stock’s 50 day simple moving average is $70.17 and its 200 day simple moving average is $68.57. The company has a market cap of $8.11 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group has a fifty-two week low of $55.24 and a fifty-two week high of $74.24.

Berry Global Group (NYSE:BERY) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates 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 revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 EPS. On average, research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. Berry Global Group’s payout ratio is currently 30.92%.

Institutional Investors Weigh In On Berry Global Group

Several large investors have recently added to or reduced their stakes in BERY. Geode Capital Management LLC raised its holdings in shares of 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 valued at $134,806,000 after acquiring an additional 27,437 shares in the last quarter. Sound Income Strategies LLC increased its position 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 during the last quarter. Hancock Whitney Corp purchased a new stake in Berry Global Group in the third quarter valued at approximately $1,065,000. Barclays PLC lifted its position in Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after purchasing an additional 47,476 shares during the last quarter. Finally, Goldentree Asset Management LP bought a new stake in Berry Global Group during the third quarter valued at approximately $24,288,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Company Profile

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.