Berry Global Group (NYSE:BERY) Upgraded to “Buy” by StockNews.com

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

A number of other research firms have also recently commented on BERY. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an equal weight rating and a $76.00 target price for the company. UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group has a consensus rating of Hold and an average target price of $71.82.

Berry Global Group Price Performance

Shares of BERY stock opened at $66.60 on Thursday. The stock’s 50-day moving average is $66.14 and its 200 day moving average is $61.97. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The company has a market cap of $7.62 billion, a P/E ratio of 15.82, a PEG ratio of 1.20 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data 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. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts predict that Berry Global Group will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. Berry Global Group’s payout ratio is 26.13%.

Hedge Funds Weigh In On Berry Global Group

Institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its position in Berry Global Group by 1.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after buying an additional 176 shares during the period. State of Michigan Retirement System raised its holdings in Berry Global Group by 0.7% in the 1st 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. boosted its position in Berry Global Group by 1.0% during the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 287 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Berry Global Group by 9.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 355 shares during the period. Finally, Shayne & Jacobs LLC increased its position in shares of Berry Global Group by 2.0% in the second quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock valued at $1,075,000 after buying an additional 360 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.