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

StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Thursday morning. The firm issued a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial lifted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, February 10th. UBS Group lifted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Up 4.1 %

Shares of BERY stock opened at $67.12 on Thursday. 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 stock has a fifty day simple moving average of $69.69 and a two-hundred day simple moving average of $68.53. The firm has a market capitalization of $7.77 billion, a PE ratio of 16.74, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $74.24.

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

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s dividend payout ratio is 30.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. purchased a new stake in Berry Global Group during the fourth quarter valued at approximately $105,092,000. Norges Bank purchased a new stake in Berry Global Group during the 4th quarter valued at $91,526,000. Magnetar Financial LLC bought a new stake in Berry Global Group in the fourth quarter worth $71,882,000. AQR Arbitrage LLC purchased a new position in Berry Global Group during the fourth quarter worth $53,950,000. Finally, Westchester Capital Management LLC bought a new position in Berry Global Group during the fourth quarter valued at $45,055,000. 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.