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

StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research note released on Tuesday morning. The firm issued a buy rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group boosted their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. 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. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Down 1.3 %

Shares of NYSE BERY opened at $67.97 on Tuesday. The firm has a market cap of $7.87 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24. The firm’s 50 day moving average price is $70.07 and its 200 day moving average price is $68.56.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 EPS. As a group, sell-side analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Institutional Trading of Berry Global Group

Several large investors have recently bought and sold shares of the company. Greenleaf Trust boosted its stake in shares of Berry Global Group by 3.5% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 149 shares during the period. Quadrant Capital Group LLC lifted its holdings in Berry Global Group by 28.8% in the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after buying an additional 165 shares in the last quarter. CIBC Asset Management Inc boosted its position in Berry Global Group by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after buying an additional 170 shares during the last quarter. M&T Bank Corp grew its stake in shares of Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 173 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Berry Global Group by 2.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds 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.