Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research report sent to investors on Monday morning. The brokerage issued a buy rating on the industrial products company’s stock.

BERY has been the topic of a number of other reports. Truist Financial lifted their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Barclays lifted their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, UBS Group lifted their price objective 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. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Up 0.6 %

Shares of NYSE:BERY opened at $70.56 on Monday. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The stock’s 50-day simple moving average is $69.66 and its two-hundred day simple moving average is $68.50. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $74.24.

Berry Global Group (NYSE:BERY) last announced its earnings results 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 business had revenue of $2.39 billion for 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%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Analysts expect that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Institutional Trading of Berry Global Group

A number of large investors have recently added to or reduced their stakes in BERY. UMB Bank n.a. increased its stake 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 acquiring an additional 306 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Berry Global Group by 28.8% in the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Berry Global Group by 3,569.6% in 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 last quarter. Venturi Wealth Management LLC increased its stake in Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the last quarter. Finally, Atlas Capital Advisors Inc. increased its stake in Berry Global Group by 7,390.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,626 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

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.