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 report published on Saturday morning. The brokerage issued a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on BERY. Royal Bank of Canada upped their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. UBS Group increased their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial upped their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. 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.com, Berry Global Group has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

NYSE:BERY opened at $71.76 on Friday. 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 firm has a market cap of $8.31 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group has a 52 week low of $55.24 and a 52 week high of $73.75. The firm’s 50-day simple moving average is $68.24 and its 200 day simple moving average is $68.10.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 3.99% and a return on equity of 28.26%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that Berry Global Group will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after purchasing an additional 8,622 shares during the last quarter. Hancock Whitney Corp acquired a new stake in Berry Global Group in the third quarter valued at $1,065,000. Integrated Investment Consultants LLC bought a new position in Berry Global Group during the 3rd quarter worth $714,000. Finally, Barclays PLC lifted its holdings in Berry Global Group by 87.1% during the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after buying an additional 47,476 shares during the period. 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.