Berry Global Group (NYSE:BERY) Research Coverage Started at StockNews.com

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

Several other equities analysts have also issued reports on BERY. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. UBS Group upped their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Citigroup restated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Barclays upped their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report 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 report on Monday, February 10th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Price Performance

BERY opened at $71.68 on Friday. The stock’s 50-day moving average price is $67.59 and its 200 day moving average price is $67.78. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $73.31. 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 market cap of $8.30 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.57 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 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. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Berry Global Group will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.73%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BERY. UMB Bank n.a. grew its stake in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 165 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 821 shares during the period. Venturi Wealth Management LLC lifted its position in Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Berry Global Group during the 3rd quarter worth approximately $75,000. 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.