Analysts Set Berry Global Group, Inc. (NYSE:BERY) Price Target at $74.56

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $74.56.

BERY has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. UBS Group raised their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays lifted 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. Finally, StockNews.com initiated coverage on Berry Global Group in a research note on Tuesday. They set a “buy” rating for the company.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares during the period. Sound Income Strategies LLC raised its position in Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after purchasing an additional 8,622 shares in the last quarter. Hancock Whitney Corp bought a new position in Berry Global Group during the third quarter worth about $1,065,000. Integrated Investment Consultants LLC acquired a new stake in Berry Global Group during the third quarter valued at approximately $714,000. Finally, Barclays PLC grew its stake in shares of Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after purchasing an additional 47,476 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Price Performance

NYSE BERY opened at $67.97 on Wednesday. Berry Global Group has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The stock’s 50-day moving average is $70.07 and its two-hundred day moving average is $68.56. The firm has a market cap of $7.87 billion, a P/E ratio of 16.95, 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 (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share 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 the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $1.22 EPS. On average, analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.82%. Berry Global Group’s payout ratio is 30.92%.

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.