Berry Global Group, Inc. (NYSE:BERY) Receives $74.56 Average PT from Brokerages

Berry Global Group, Inc. (NYSE:BERY) has earned an average rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.56.

A number of brokerages have issued reports on BERY. Truist Financial raised their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Barclays raised their target price 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. Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Finally, UBS Group raised their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th.

Berry Global Group Stock Performance

Shares of BERY stock opened at $68.13 on Wednesday. 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 company’s 50-day simple moving average is $69.98 and its 200-day simple moving average is $68.54. Berry Global Group has a one year low of $55.24 and a one year high of $74.24. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.54 and a beta of 1.13.

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

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.31 per share. 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 dividend payout ratio is presently 30.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Greenleaf Trust increased its stake in shares of Berry Global Group by 3.5% during the fourth 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 period. Quadrant Capital Group LLC increased its stake in shares of Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 165 shares during the period. CIBC Asset Management Inc increased its stake in shares of 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 acquiring an additional 170 shares during the period. M&T Bank Corp increased its stake in shares of Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 173 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of Berry Global Group by 2.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 241 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

About Berry Global Group

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.