StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

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

Several other brokerages have also recently issued reports on BERY. Truist Financial upped their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group boosted their target price 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. Royal Bank of Canada increased their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, Barclays boosted their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Down 0.6 %

Shares of BERY opened at $70.65 on Monday. The firm has a market cap of $8.18 billion, a P/E ratio of 17.62, 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 current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24. The company has a 50 day simple moving average of $69.85 and a two-hundred day simple moving average of $68.53.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate 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 business 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 firm earned $1.22 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. The ex-dividend date was 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 30.92%.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. increased its stake in Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares during the period. Quadrant Capital Group LLC increased its position in shares of Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 165 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC grew its stake in Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares in the last quarter. Finally, Atlas Capital Advisors Inc. increased its holdings in Berry Global Group by 7,390.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,626 shares during the period. 95.36% of the stock is owned by institutional investors.

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.