StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research note published on Saturday morning. The brokerage issued a buy rating on the industrial products company’s stock.

Several other analysts also recently commented on BERY. Royal Bank of Canada raised their price objective on shares of 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. 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 research note on Friday, February 7th. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Truist Financial upped 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. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

Shares of BERY opened at $71.76 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’s fifty day simple moving average is $68.24 and its two-hundred day simple moving average is $68.10. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $73.75. The stock has a market capitalization of $8.31 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced its 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 company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts predict that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. EdgePoint Investment Group Inc. boosted its holdings in Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after acquiring an additional 336,186 shares during the last quarter. State Street Corp lifted its position in shares of Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares in the last quarter. FMR LLC boosted its holdings in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 last quarter. Finally, Khrom Capital Management LLC lifted its position in shares of Berry Global Group by 14.8% during the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock worth $105,413,000 after buying an additional 210,046 shares in the last quarter. 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.