Berry Global Group (NYSE:BERY) Upgraded at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a report issued on Monday morning.

BERY has been the subject of several other reports. Robert W. Baird restated a neutral rating and set a $65.00 target price (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Bank of America increased their price objective on Berry Global Group from $74.00 to $81.00 and gave the company a buy rating in a research note on Friday, May 10th. Finally, UBS Group decreased their target price on shares of Berry Global Group from $89.00 to $77.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $71.40.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $64.83 on Monday. The stock’s 50-day moving average is $61.54 and its 200 day moving average is $60.19. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.33 and a beta of 1.17. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 EPS. On average, sell-side analysts anticipate that Berry Global Group will post 7.44 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Insiders Place Their Bets

In other Berry Global Group news, Director Peter T. Thomas purchased 1,000 shares of Berry Global Group stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $59.50 per share, with a total value of $59,500.00. Following the transaction, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new position in Berry Global Group in the 2nd quarter worth $27,000. GAMMA Investing LLC bought a new position in shares of Berry Global Group in the fourth quarter worth about $31,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC grew its stake in shares of Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group in the 2nd quarter worth approximately $42,000. 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.