Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

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

A number of other analysts have also recently weighed in on BERY. Truist Financial upped their price target on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday, January 6th. UBS Group lowered their target price on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Barclays raised their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. 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 report on Monday, November 25th. Finally, Royal Bank of Canada increased their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.40.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $69.94 on Wednesday. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.45 and a beta of 1.15. Berry Global Group has a one year low of $55.01 and a one year high of $73.31. The business has a fifty day simple moving average of $67.43 and a 200 day simple moving average of $67.22. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a net margin of 4.21% and a return on equity of 26.32%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that Berry Global Group will post 6.31 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 1.77%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is 28.25%.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust increased 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 valued at $285,000 after acquiring an additional 149 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Berry Global Group by 5.1% during 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 period. M&T Bank Corp increased 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 in the last quarter. Creative Planning raised its holdings in Berry Global Group by 3.0% in the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 198 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares in the last quarter. Institutional investors and hedge funds 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.