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

Several other research firms have also commented on BERY. Truist Financial increased their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Barclays lifted their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada boosted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

BERY opened at $71.68 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $8.30 billion, a P/E ratio of 17.88, a PEG ratio of 1.54 and a beta of 1.15. The stock has a 50-day moving average price of $67.59 and a 200-day moving average price of $67.72. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $73.31.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Berry Global Group’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts predict that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Berry Global Group in the 3rd quarter worth $152,000. Creative Planning increased its position in shares of Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after buying an additional 198 shares during the period. Blue Trust Inc. raised its stake in Berry Global Group by 149.3% in the third quarter. Blue Trust Inc. now owns 3,829 shares of the industrial products company’s stock worth $260,000 after buying an additional 2,293 shares in the last quarter. Raymond James & Associates raised its stake in Berry Global Group by 32.3% in the third quarter. Raymond James & Associates now owns 261,538 shares of the industrial products company’s stock worth $17,779,000 after buying an additional 63,836 shares in the last quarter. Finally, apricus wealth LLC lifted its holdings in Berry Global Group by 18.3% in the third quarter. apricus wealth LLC now owns 31,971 shares of the industrial products company’s stock worth $2,173,000 after buying an additional 4,950 shares during the period. 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.