Morgan Stanley began coverage on shares of Berry Global Group (NYSE:BERY – Free Report) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $76.00 price objective on the industrial products company’s stock.
Other research analysts have also issued research reports about the company. UBS Group lowered their price target on 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. StockNews.com lowered shares of Berry Global Group from a buy rating to a hold rating in a research report on Wednesday, August 21st. Finally, Bank of America lifted their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the company a buy rating in a research report on Friday, May 10th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $71.82.
View Our Latest Stock Analysis on Berry Global Group
Berry Global Group Trading Down 0.4 %
Berry Global Group (NYSE:BERY – Get Free Report) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts expect that Berry Global Group will post 7.6 EPS for the current fiscal year.
Berry Global Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.
Institutional Trading of Berry Global Group
Hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC increased its position in 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 worth $32,000 after acquiring an additional 548 shares during the period. LRI Investments LLC raised 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Berry Global Group in the 2nd quarter valued at about $42,000. Finally, American Capital Advisory LLC acquired a new position in shares of Berry Global Group during the 2nd quarter worth approximately $44,000. 95.36% of the stock is owned by institutional investors and hedge funds.
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.
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