Berry Global Group, Inc. (NYSE:BERY) Given Average Recommendation of “Hold” by Brokerages

Berry Global Group, Inc. (NYSE:BERY) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $73.30.

A number of brokerages have issued reports on BERY. UBS Group reduced their price objective on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Citigroup reiterated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Barclays upped their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada boosted their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th.

Berry Global Group Price Performance

BERY stock opened at $67.93 on Tuesday. The company has a market capitalization of $7.86 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The business has a 50-day simple moving average of $67.56 and a two-hundred day simple moving average of $67.07. 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 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 issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s payout ratio is currently 28.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Berry Global Group by 3.9% in the second quarter. American Century Companies Inc. now owns 21,004 shares of the industrial products company’s stock worth $1,236,000 after purchasing an additional 784 shares during the period. Hsbc Holdings PLC bought a new position in Berry Global Group in the 2nd quarter worth about $381,000. Squarepoint Ops LLC boosted its position in shares of Berry Global Group by 134.7% during the 2nd quarter. Squarepoint Ops LLC now owns 72,862 shares of the industrial products company’s stock valued at $4,288,000 after acquiring an additional 41,811 shares during the last quarter. Algert Global LLC bought a new stake in shares of Berry Global Group during the 2nd quarter valued at about $687,000. Finally, Creative Planning grew its holdings in shares of Berry Global Group by 5.9% during the second quarter. Creative Planning now owns 6,629 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.