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.

BERY has been the topic of several other research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. UBS Group lifted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, Barclays raised their price objective on 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Up 0.6 %

Shares of Berry Global Group stock opened at $72.15 on Friday. 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 52-week low of $55.24 and a 52-week high of $73.31. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.15. The company’s 50 day moving average price is $68.24 and its 200-day moving average price is $68.04.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. Equities research analysts forecast that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.31 dividend. 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 is presently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently modified their holdings of the stock. UMB Bank n.a. raised its position in shares of Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares during the last quarter. Quadrant Capital Group LLC raised its position 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 worth $48,000 after purchasing an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group in the 3rd quarter worth about $75,000. 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.