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

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

Other equities research analysts also recently issued reports about the stock. UBS Group increased their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial increased their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Barclays raised 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, Royal Bank of Canada raised their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $72.15 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $8.35 billion, a PE ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $73.31. The company has a 50-day moving average price of $68.24 and a two-hundred day moving average price of $68.04.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts forecast that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Greenleaf Trust raised its stake in shares of Berry Global Group by 3.5% during the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock worth $285,000 after acquiring an additional 149 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 165 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Berry Global Group by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock worth $229,000 after acquiring an additional 170 shares in the last quarter. M&T Bank Corp raised its stake in shares of Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 173 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 198 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.