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

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

A number of other equities research analysts have also issued reports on the stock. UBS Group upped their price objective 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. Truist Financial boosted 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. Six 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 $75.75.

Berry Global Group Stock Up 1.2 %

BERY stock opened at $67.60 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 firm has a 50-day moving average of $69.42 and a two-hundred day moving average of $68.54. Berry Global Group has a 12 month low of $55.68 and a 12 month high of $74.24. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating 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 firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts forecast that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds have recently made changes to their positions in BERY. Geode Capital Management LLC lifted its stake in Berry Global Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock worth $128,691,000 after purchasing an additional 6,833 shares in the last quarter. Khrom Capital Management LLC raised its holdings 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. Balyasny Asset Management L.P. acquired a new position in Berry Global Group during the 4th quarter worth about $105,092,000. Norges Bank purchased a new position in Berry Global Group during the 4th quarter valued at about $91,526,000. Finally, Magnetar Financial LLC acquired a new position in Berry Global Group in the 4th quarter valued at about $71,882,000. 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.