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 report sent to investors on Thursday. The brokerage issued a buy rating on the industrial products company’s stock.

Several other analysts have also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group raised their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays raised their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

NYSE BERY opened at $70.25 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. Berry Global Group has a fifty-two week low of $55.24 and a fifty-two week high of $73.31. The business has a fifty day moving average of $67.33 and a 200-day moving average of $67.49. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced 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. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts predict that Berry Global Group will post 6.3 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenleaf Trust lifted its holdings in Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock worth $285,000 after buying an additional 149 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 165 shares during the last quarter. CIBC Asset Management Inc grew its stake in Berry Global Group by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 170 shares in the last quarter. M&T Bank Corp increased its holdings in Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 173 shares during the last quarter. Finally, Creative Planning raised its position in shares of Berry Global Group by 3.0% in the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 198 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.