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

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a report published on Thursday morning. The brokerage issued a buy rating on the industrial products company’s stock.

BERY has been the topic of a number of other research reports. Truist Financial lifted their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday. Royal Bank of Canada lifted their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. UBS Group boosted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Citigroup restated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Performance

Berry Global Group stock opened at $70.42 on Thursday. The stock has a fifty day moving average price of $67.30 and a 200 day moving average price of $67.42. Berry Global Group has a 52 week low of $55.24 and a 52 week high of $73.31. The firm has a market capitalization of $8.15 billion, a P/E ratio of 17.56, a PEG ratio of 1.50 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Berry Global Group will post 6.3 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.76%. Berry Global Group’s dividend payout ratio is currently 30.92%.

Institutional Investors Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. lifted its holdings in Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after buying an additional 336,186 shares in the last quarter. State Street Corp lifted its stake in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares in the last quarter. FMR LLC boosted its holdings in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Geode Capital Management LLC grew its stake in Berry Global Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after purchasing an additional 6,833 shares in the last quarter. Finally, Norges Bank acquired a new stake in Berry Global Group during the 4th quarter valued at approximately $91,526,000. 95.36% of the stock is owned by institutional investors and hedge funds.

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.