Berry Global Group, Inc. (NYSE:BERY) Receives $74.56 Average Target Price from Analysts

Berry Global Group, Inc. (NYSE:BERY) has earned an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $74.56.

Several brokerages have recently commented on BERY. UBS Group raised their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. StockNews.com assumed coverage on Berry Global Group in a research note on Monday, March 17th. They set a “buy” rating for the company. Citigroup reiterated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Barclays lifted their price target on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Greenleaf Trust boosted its stake in shares of Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock worth $285,000 after buying an additional 149 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 165 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Berry Global Group by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 170 shares during the last quarter. M&T Bank Corp lifted its stake in Berry Global Group by 3.1% in the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 173 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Berry Global Group by 2.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of BERY opened at $68.13 on Wednesday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The stock has a 50-day moving average of $69.98 and a 200-day moving average of $68.54. The company has a market cap of $7.89 billion, a PE ratio of 16.99, a P/E/G ratio of 1.54 and a beta of 1.13. Berry Global Group has a one year low of $55.24 and a one year high of $74.24.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $2.39 billion during 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 for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $1.22 EPS. On average, equities research analysts predict that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend 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 presently 30.92%.

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.