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

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

Other analysts have also recently issued research reports about the stock. UBS Group reduced their price target on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays raised their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Finally, Truist Financial upped their price target on Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.30.

Berry Global Group Stock Up 1.2 %

Berry Global Group stock opened at $71.37 on Wednesday. The company has a market capitalization of $8.26 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.15. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The firm has a 50 day moving average price of $67.46 and a 200 day moving average price of $67.20.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a return on equity of 26.32% and a net margin of 4.21%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Research analysts expect that Berry Global Group will post 6.31 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is 28.25%.

Institutional Trading of Berry Global Group

Institutional investors have recently modified their holdings of the stock. US Bancorp DE lifted its position in Berry Global Group by 133.2% in the fourth quarter. US Bancorp DE now owns 8,685 shares of the industrial products company’s stock valued at $562,000 after acquiring an additional 4,960 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Berry Global Group in the 4th quarter valued at about $236,000. QRG Capital Management Inc. boosted its position in shares of Berry Global Group by 11.9% in the 4th quarter. QRG Capital Management Inc. now owns 10,051 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 1,072 shares during the period. Versor Investments LP grew its stake in Berry Global Group by 43.0% during the 4th quarter. Versor Investments LP now owns 44,806 shares of the industrial products company’s stock worth $2,898,000 after buying an additional 13,473 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Berry Global Group by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 115,485 shares of the industrial products company’s stock worth $7,468,000 after buying an additional 1,571 shares during the period. 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.