Berry Global Group, Inc. (NYSE:BERY) Given Average Recommendation of “Hold” by Analysts

Berry Global Group, Inc. (NYSE:BERY) has earned an average recommendation of “Hold” from the twelve brokerages that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $71.82.

Several equities research analysts recently weighed in on the company. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. UBS Group dropped their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th.

Institutional Trading of Berry Global Group

A number of institutional investors have recently bought and sold shares of BERY. Vanguard Personalized Indexing Management LLC increased its position in shares of Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after buying an additional 176 shares in the last quarter. State of Michigan Retirement System raised its position in Berry Global Group by 0.7% during the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after acquiring an additional 200 shares during the last quarter. Guardian Wealth Management Inc. lifted its holdings in shares of Berry Global Group by 1.0% in the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 287 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Berry Global Group by 9.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 355 shares during the last quarter. Finally, Shayne & Jacobs LLC increased its stake in shares of Berry Global Group by 2.0% during the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock worth $1,075,000 after purchasing an additional 360 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $68.88 on Wednesday. The firm’s fifty day simple moving average is $65.83 and its 200-day simple moving average is $61.70. Berry Global Group has a 12 month low of $53.92 and a 12 month high of $69.93. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.20 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. As a group, equities analysts forecast that Berry Global Group will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is currently 26.13%.

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.