Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research note published on Sunday. The firm issued a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the company. UBS Group decreased their target price on Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays lifted their price objective 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. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Truist Financial increased their price objective 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 company’s stock. Based on data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average price target of $73.30.

Berry Global Group Stock Performance

BERY stock opened at $66.20 on Friday. The firm has a market cap of $7.63 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.38 and a beta of 1.16. The stock’s 50 day simple moving average is $67.47 and its 200 day simple moving average is $66.32. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 28.25%.

Institutional Trading of Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of BERY. Assenagon Asset Management S.A. purchased a new position in Berry Global Group in the fourth quarter valued at about $2,868,000. CWA Asset Management Group LLC raised its position in Berry Global Group by 27.9% during the fourth quarter. CWA Asset Management Group LLC now owns 7,072 shares of the industrial products company’s stock valued at $457,000 after acquiring an additional 1,543 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $215,000. Franklin Resources Inc. boosted its holdings in Berry Global Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock worth $21,711,000 after purchasing an additional 3,744 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Berry Global Group by 71.0% during the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock valued at $2,129,000 after buying an additional 13,004 shares in the last quarter. Institutional investors and hedge funds 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.