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

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Friday. 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 lifted 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. Barclays raised their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. UBS Group raised their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. 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. Finally, Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

Shares of BERY stock opened at $71.68 on Friday. The stock has a fifty day moving average price of $67.59 and a 200 day moving average price of $67.78. The stock has a market cap of $8.30 billion, a PE ratio of 17.88, a P/E/G ratio of 1.57 and a beta of 1.15. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $73.31. 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 (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Sell-side analysts forecast that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is currently 30.92%.

Institutional Investors Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. grew its position in shares of Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after purchasing an additional 336,186 shares during the period. State Street Corp grew its position in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares during the period. FMR LLC grew its position in shares of Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the period. Geode Capital Management LLC boosted its holdings in Berry Global Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after acquiring an additional 6,833 shares during the last quarter. Finally, Khrom Capital Management LLC boosted its holdings in Berry Global Group by 14.8% in the fourth quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after acquiring an additional 210,046 shares during the last quarter. Hedge funds and other institutional investors 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.