StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

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

Other equities analysts have also recently issued research reports about the stock. UBS Group raised their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Truist Financial lifted their target price 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Berry Global Group presently has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Up 0.2 %

BERY opened at $70.71 on Wednesday. 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 cap 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. Berry Global Group has a 52 week low of $55.24 and a 52 week high of $74.24. The business has a fifty day simple moving average of $70.34 and a 200-day simple moving average of $68.72.

Berry Global Group (NYSE:BERY) last released its 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 company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. Berry Global Group’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. On average, equities analysts expect that Berry Global Group will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid 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 30.92%.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds have recently added to or reduced their stakes in BERY. Balyasny Asset Management L.P. purchased a new stake in shares of Berry Global Group during the 4th quarter worth approximately $105,092,000. Norges Bank acquired a new position in Berry Global Group in the fourth quarter valued at $91,526,000. Magnetar Financial LLC purchased a new position in shares of Berry Global Group during the fourth quarter worth about $71,882,000. AQR Arbitrage LLC acquired a new stake in shares of Berry Global Group during the fourth quarter worth about $53,950,000. Finally, Westchester Capital Management LLC purchased a new stake in shares of Berry Global Group in the 4th quarter valued at about $45,055,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.