Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Friday morning. The firm issued a buy rating on the industrial products company’s stock.

Several other brokerages have also issued reports on BERY. Barclays raised their price target on shares of 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. Royal Bank of Canada raised their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Citigroup restated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial increased their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $71.68 on Friday. The business’s fifty day simple moving average is $67.59 and its 200 day simple moving average is $67.72. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $73.31. The firm has a market capitalization of $8.30 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. As a group, analysts anticipate that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 yield of 1.73%. Berry Global Group’s dividend payout ratio is currently 30.92%.

Institutional Trading of Berry Global Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. EdgePoint Investment Group Inc. increased its holdings in shares of Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after purchasing an additional 336,186 shares during the period. State Street Corp increased its stake in 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 worth $260,487,000 after acquiring an additional 360,857 shares during the last quarter. FMR LLC raised its holdings 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 acquiring an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Berry Global Group by 0.3% during 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 acquiring an additional 6,833 shares during the last quarter. Finally, Khrom Capital Management LLC grew its holdings in shares of Berry Global Group by 14.8% during the fourth quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock worth $105,413,000 after purchasing an additional 210,046 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.