Berry Global Group, Inc. (NYSE:BERY) Given Average Recommendation of “Hold” by Brokerages

Shares of Berry Global Group, Inc. (NYSE:BERY) have received an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $71.40.

A number of equities analysts recently commented on BERY shares. UBS Group decreased their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Bank of America lifted their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

Hedge Funds Weigh In On Berry Global Group

Hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group during the second quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in shares of Berry Global Group during the fourth quarter valued at about $31,000. Quest Partners LLC increased its position in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares during the period. LRI Investments LLC increased its position in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Berry Global Group during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $68.87 on Friday. The stock has a market cap of $7.88 billion, a PE ratio of 16.36, a PEG ratio of 1.33 and a beta of 1.17. The company’s fifty day moving average is $63.07 and its 200 day moving average is $60.51. Berry Global Group has a 52 week low of $53.92 and a 52 week high of $69.93. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. Research analysts anticipate that Berry Global Group will post 7.44 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.

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.