Berry Global Group (NYSE:BERY) Hits New 12-Month High – What’s Next?

Berry Global Group, Inc. (NYSE:BERY)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $73.75 and last traded at $71.76, with a volume of 3685095 shares. The stock had previously closed at $72.17.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BERY. Barclays lifted 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. StockNews.com assumed coverage on Berry Global Group in a research report on Saturday. They issued a “buy” rating for the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Finally, Royal Bank of Canada upped their price target on shares of 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. 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, the company currently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Performance

The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The stock has a 50-day moving average of $68.24 and a 200 day moving average of $68.10.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.22 EPS. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in 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 buying an additional 306 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Berry Global Group by 28.8% in the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 821 shares during the period. Venturi Wealth Management LLC boosted its stake in Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Berry Global Group during the third quarter valued at approximately $75,000. 95.36% of the stock is currently owned by institutional investors.

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.