Berry Global Group, Inc. (NYSE:BERY) Receives Consensus Rating of “Hold” from Brokerages

Berry Global Group, Inc. (NYSE:BERY) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $74.56.

A number of equities analysts recently commented on BERY shares. Barclays raised their price objective 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. StockNews.com started coverage on shares of Berry Global Group in a research note on Monday, March 17th. They issued a “buy” rating for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Finally, UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th.

Berry Global Group Trading Down 2.9 %

Berry Global Group stock opened at $68.13 on Wednesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24. The firm’s 50 day moving average price is $69.98 and its two-hundred day moving average price is $68.54.

Berry Global Group (NYSE:BERY) last posted its quarterly 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 net margin of 3.99% and a return on equity of 28.26%. 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 previous year, the business posted $1.22 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Greenleaf Trust raised its holdings in shares of Berry Global Group by 3.5% during the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 149 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of 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 valued at $48,000 after purchasing an additional 165 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Berry Global Group by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 170 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 173 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Berry Global Group by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 241 shares in the last quarter. 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.