Berry Global Group (NYSE:BERY) Downgraded by StockNews.com

StockNews.com downgraded shares of Berry Global Group (NYSE:BERY) from a buy rating to a hold rating in a research report report published on Wednesday.

Several other equities analysts also recently issued reports on BERY. UBS Group reduced their price target on shares of Berry Global Group from $89.00 to $77.00 and set a buy rating for the company in a report on Wednesday, July 17th. Bank of America upped their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a buy rating in a research report on Friday, May 10th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $71.40.

Berry Global Group Trading Up 1.8 %

NYSE BERY opened at $67.24 on Wednesday. The firm has a market capitalization of $7.69 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The company has a 50-day simple moving average of $62.36 and a 200-day simple moving average of $60.18. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 earnings per share. On average, equities analysts forecast that Berry Global Group will post 7.44 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is presently 26.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BERY. EdgePoint Investment Group Inc. lifted its holdings in Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after acquiring an additional 1,393,955 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after purchasing an additional 1,200,021 shares in the last quarter. LSV Asset Management lifted its stake in Berry Global Group by 4.1% during the fourth quarter. LSV Asset Management now owns 4,330,213 shares of the industrial products company’s stock valued at $291,813,000 after purchasing an additional 170,317 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Berry Global Group by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,282,248 shares of the industrial products company’s stock worth $221,191,000 after buying an additional 81,496 shares during 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.