Morgan Stanley started coverage on shares of Berry Global Group (NYSE:BERY – Free Report) in a research report released on Wednesday, MarketBeat reports. The firm issued an equal weight rating and a $76.00 price target on the industrial products company’s stock.
Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Berry Global Group from a buy rating to a hold rating in a report on Wednesday, August 21st. Bank of America lifted their price objective on Berry Global Group from $74.00 to $81.00 and gave the stock a buy rating in a report on Friday, May 10th. Finally, UBS Group lowered their target price on Berry Global Group from $89.00 to $77.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Berry Global Group currently has an average rating of Hold and an average price target of $71.82.
Get Our Latest Stock Analysis on BERY
Berry Global Group Stock Down 1.1 %
Berry Global Group (NYSE:BERY – Get Free Report) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. Berry Global Group’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. Equities analysts predict that Berry Global Group will post 7.6 EPS for the current fiscal year.
Berry Global Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be 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 of this dividend is Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of BERY. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group in the second quarter worth about $27,000. Quest Partners LLC lifted its holdings in Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC boosted its stake in Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group during the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the second quarter valued at approximately $44,000. 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.
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