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

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

Several other research firms have also recently weighed in on BERY. UBS Group reduced their price objective on Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Barclays lifted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada increased their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.40.

Berry Global Group Price Performance

NYSE BERY opened at $69.94 on Wednesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group has a 52-week low of $55.01 and a 52-week high of $73.31. The business has a 50 day simple moving average of $67.43 and a 200 day simple moving average of $67.22. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.45 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data 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 business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 4.21% and a return on equity of 26.32%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $1.22 earnings per share. Analysts anticipate that Berry Global Group will post 6.31 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. Investors of record on Monday, March 3rd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.77%. Berry Global Group’s dividend payout ratio (DPR) is currently 28.25%.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in shares of Berry Global Group by 25.4% in the fourth quarter. HighTower Advisors LLC now owns 5,806 shares of the industrial products company’s stock valued at $375,000 after buying an additional 1,177 shares during the last quarter. AGF Management Ltd. raised its stake in Berry Global Group by 6.2% in the 4th quarter. AGF Management Ltd. now owns 30,011 shares of the industrial products company’s stock valued at $1,941,000 after acquiring an additional 1,748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Berry Global Group by 17.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,840 shares of the industrial products company’s stock valued at $1,800,000 after purchasing an additional 4,181 shares during the last quarter. AlphaQuest LLC boosted its position in Berry Global Group by 418.4% during the fourth quarter. AlphaQuest LLC now owns 44,910 shares of the industrial products company’s stock worth $2,904,000 after purchasing an additional 36,247 shares during the period. Finally, Alpine Associates Management Inc. acquired a new position in shares of Berry Global Group in the fourth quarter valued at $38,323,000. Institutional investors own 95.36% of the company’s stock.

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.