Berry Global Group (NYSE:BERY) Cut to “Hold” at StockNews.com

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

BERY has been the topic of several other reports. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They set an equal weight rating and a $76.00 price objective on the stock. UBS Group dropped their price objective on Berry Global Group from $89.00 to $77.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $71.82.

Berry Global Group Stock Performance

Berry Global Group stock opened at $65.53 on Friday. The stock’s 50 day moving average price is $64.59 and its 200 day moving average price is $61.08. The firm has a market capitalization of $7.51 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group has a one year low of $53.92 and a one year high of $69.93.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.02 by $0.16. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. Berry Global Group’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. As a group, sell-side analysts expect that Berry Global Group will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its position in Berry Global Group by 1.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock worth $555,000 after acquiring an additional 176 shares during the period. State of Michigan Retirement System raised its position in shares of Berry Global Group by 0.7% during the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after purchasing an additional 200 shares during the period. Guardian Wealth Management Inc. lifted its stake in Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 287 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Berry Global Group by 9.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 355 shares in the last quarter. Finally, Shayne & Jacobs LLC lifted its stake in Berry Global Group by 2.0% in the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock worth $1,075,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds 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.