Berry Global Group (NYSE:BERY) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Several other equities analysts have also commented on the stock. UBS Group lowered their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average target price of $71.22.

Berry Global Group Stock Performance

BERY opened at $70.58 on Wednesday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.16 and a beta of 1.15. The company has a fifty day moving average of $67.99 and a 200 day moving average of $63.29. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $71.52. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82.

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

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is 23.50%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in Berry Global Group during the 2nd quarter valued at about $27,000. Quest Partners LLC increased its position in Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the period. LRI Investments LLC increased its position in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group during the 2nd quarter valued at about $42,000. Finally, American Capital Advisory LLC purchased a new position in Berry Global Group during the 2nd quarter valued at about $44,000. Hedge funds and other 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.