Analysts Set Berry Global Group, Inc. (NYSE:BERY) PT at $74.56

Berry Global Group, Inc. (NYSE:BERY) has earned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $74.56.

Several research firms have issued reports on BERY. Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Truist Financial increased their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Citigroup restated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, UBS Group upped their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BERY. Balyasny Asset Management L.P. bought a new position in Berry Global Group in the fourth quarter valued at $105,092,000. Norges Bank bought a new position in Berry Global Group in the fourth quarter valued at $91,526,000. Magnetar Financial LLC bought a new position in Berry Global Group in the fourth quarter valued at $71,882,000. FMR LLC increased its stake 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 acquiring an additional 1,055,756 shares during the last quarter. Finally, AQR Arbitrage LLC bought a new position in Berry Global Group in the fourth quarter valued at $53,950,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Berry Global Group stock opened at $68.13 on Wednesday. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The business’s 50 day simple moving average is $69.98 and its 200 day simple moving average is $68.54. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. Sell-side analysts forecast that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.82%. Berry Global Group’s dividend payout ratio is presently 30.92%.

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.