Berry Global Group (NYSE:BERY) Lifted to “Buy” at StockNews.com

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

BERY has been the topic of several other research reports. UBS Group lowered 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 research note on Wednesday, July 17th. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an equal weight rating and a $76.00 price target for the company. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group presently has an average rating of Hold and a consensus target price of $71.82.

Berry Global Group Stock Performance

Shares of BERY opened at $66.60 on Thursday. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The company’s fifty day moving average price is $66.14 and its 200 day moving average price is $61.95. The company has a market capitalization of $7.62 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15.

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

Berry Global Group Announces Dividend

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

Institutional Investors Weigh In On Berry Global Group

Several large investors have recently modified their holdings of the stock. EdgePoint Investment Group Inc. boosted its stake in Berry Global Group by 16.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock valued at $819,441,000 after buying an additional 1,934,137 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after purchasing an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after purchasing an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP lifted its holdings in Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares during the last quarter. 95.36% of the stock is currently owned by 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.