Berry Global Group (NYSE:BERY) Cut to Hold at StockNews.com

StockNews.com lowered shares of Berry Global Group (NYSE:BERY) from a buy rating to a hold rating in a research note published on Friday morning.

BERY has been the subject of several other reports. UBS Group decreased their price target on shares of Berry Global Group from $89.00 to $77.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an equal weight rating and a $76.00 price target for the company. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of Hold and an average target price of $71.80.

Berry Global Group Stock Up 2.2 %

Shares of NYSE BERY opened at $68.53 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group has a 12 month low of $53.92 and a 12 month high of $69.93. The firm has a market capitalization of $7.84 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. The firm has a fifty day simple moving average of $66.36 and a two-hundred day simple moving average of $62.24.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $3.26 billion. During the same period in the prior year, the business earned $1.90 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts expect that Berry Global Group will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Institutional Trading of Berry Global Group

Several institutional investors have recently bought and sold shares of BERY. Quarry LP grew its position in Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 615 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Berry Global Group during the 4th quarter valued at about $239,000. Goldman Sachs Group Inc. boosted its holdings in shares of Berry Global Group by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after acquiring an additional 48,484 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Berry Global Group during the 4th quarter valued at about $8,559,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Berry Global Group during the 4th quarter valued at about $500,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.