Berry Global Group (NYSE:BERY) Research Coverage Started 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.

Other analysts also recently issued reports about the company. UBS Group raised their target price 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. Truist Financial raised their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Barclays raised their price objective on 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. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Citigroup reissued a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Down 1.7 %

Shares of BERY stock opened at $71.60 on Friday. The stock’s fifty day moving average is $69.08 and its two-hundred day moving average is $68.39. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The firm has a market capitalization of $8.29 billion, a P/E ratio of 17.86, a PEG ratio of 1.54 and a beta of 1.13. Berry Global Group has a fifty-two week low of $55.24 and a fifty-two week high of $74.24.

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 analysts’ consensus estimates 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 the consensus estimate of $2.35 billion. During the same period last year, the company earned $1.22 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently announced 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 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is currently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. boosted its stake in shares of Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares during the period. State Street Corp boosted its stake in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares during the period. FMR LLC boosted its stake in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the period. Geode Capital Management LLC boosted its stake in shares of Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after buying an additional 6,833 shares during the period. Finally, Khrom Capital Management LLC boosted its stake in shares of Berry Global Group by 14.8% in the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after buying an additional 210,046 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.