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

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Sunday. The brokerage issued a buy rating on the industrial products company’s stock.

Several other analysts also recently weighed in on BERY. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada boosted their price objective on shares of 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. UBS Group boosted their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays boosted their price objective on shares of 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Stock Performance

Berry Global Group stock opened at $73.11 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $8.47 billion, a PE ratio of 18.23, a P/E/G ratio of 1.54 and a beta of 1.13. The firm has a fifty day simple moving average of $68.91 and a two-hundred day simple moving average of $68.34. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $73.75.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Research analysts expect that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is currently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of BERY. US Bancorp DE increased its position in shares of Berry Global Group by 9.1% during the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock valued at $253,000 after buying an additional 311 shares during the period. QRG Capital Management Inc. increased its position in shares of Berry Global Group by 14.7% during the third quarter. QRG Capital Management Inc. now owns 8,979 shares of the industrial products company’s stock valued at $610,000 after buying an additional 1,151 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group during the third quarter valued at about $75,000. CWA Asset Management Group LLC purchased a new position in shares of Berry Global Group during the third quarter valued at about $376,000. Finally, Atria Investments Inc increased its position in shares of Berry Global Group by 4.8% during the third quarter. Atria Investments Inc now owns 42,512 shares of the industrial products company’s stock valued at $2,890,000 after buying an additional 1,945 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.