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 report published on Friday morning. The firm issued a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. UBS Group upped their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Truist Financial upped their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Six 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 has a consensus rating of “Hold” and a consensus target price of $75.75.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $67.60 on Friday. The business has a 50 day moving average price of $69.47 and a two-hundred day moving average price of $68.51. Berry Global Group has a fifty-two week low of $55.68 and a fifty-two week high of $74.24. The firm has a market cap of $7.83 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 1.09, a current ratio of 1.61 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates 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 revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. Sell-side analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors have recently modified their holdings of BERY. UMB Bank n.a. grew its position in Berry Global Group by 89.0% in the 4th 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 last quarter. Quadrant Capital Group LLC raised its stake in Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 165 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 821 shares during the period. Venturi Wealth Management LLC grew its stake in shares of 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. raised its stake in shares of Berry Global Group by 7,390.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,626 shares in the last quarter. 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.