Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

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

Other analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Truist Financial lifted their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $70.03 on Tuesday. The business’s 50-day moving average price is $70.17 and its 200-day moving average price is $68.57. The firm has a market capitalization of $8.11 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. 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.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. Sell-side analysts forecast that Berry Global Group will post 6.25 EPS 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. Investors of record on Monday, March 3rd were issued 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 1.77%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of Berry Global Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 835,915 shares of the industrial products company’s stock worth $56,826,000 after buying an additional 18,736 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Berry Global Group in the 3rd quarter worth approximately $408,000. Cerity Partners LLC grew its stake in shares of Berry Global Group by 171.2% in the 3rd quarter. Cerity Partners LLC now owns 14,316 shares of the industrial products company’s stock worth $973,000 after buying an additional 9,037 shares during the last quarter. Hancock Whitney Corp bought a new position in Berry Global Group during the 3rd quarter valued at approximately $1,065,000. Finally, Bank of Montreal Can raised its stake in Berry Global Group by 24.5% during the third quarter. Bank of Montreal Can now owns 251,873 shares of the industrial products company’s stock valued at $17,349,000 after buying an additional 49,609 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.