Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Wednesday morning. The brokerage issued a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the company. UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial raised their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

Berry Global Group stock opened at $70.71 on Wednesday. The stock has a market capitalization of $8.19 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.54 and a beta of 1.13. The company’s fifty day moving average price is $70.34 and its 200 day moving average price is $68.72. 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 1 year low of $55.24 and a 1 year high of $74.24.

Berry Global Group (NYSE:BERY) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Greenleaf Trust lifted its holdings in Berry Global Group by 3.5% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 149 shares during the last quarter. Quadrant Capital Group LLC lifted 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 purchasing an additional 165 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Berry Global Group by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 170 shares during the period. M&T Bank Corp increased its position in shares of Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 173 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Berry Global Group by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after buying an additional 241 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.