Berry Global Group (NYSE:BERY) Price Target Raised to $76.00

Berry Global Group (NYSE:BERY) had its price target hoisted by Truist Financial from $74.00 to $76.00 in a research note published on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

BERY has been the topic of a number of other research reports. Barclays upped their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada upped their target price 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. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Wednesday, February 5th. They issued a “buy” rating on the stock. UBS Group upped their target price 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. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

NYSE:BERY opened at $69.92 on Monday. The firm’s 50-day moving average is $67.30 and its 200-day moving average is $67.42. Berry Global Group has a 52-week low of $55.24 and a 52-week high of $73.31. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.80 and a current ratio of 1.61. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last posted its 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 business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $1.22 earnings per share. Equities research analysts anticipate that Berry Global Group will post 6.3 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. Berry Global Group’s payout ratio is 30.92%.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently modified their holdings of the stock. Atlas Capital Advisors Inc. lifted its position in shares of Berry Global Group by 7,390.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,626 shares in the last quarter. ExodusPoint Capital Management LP lifted its position in shares of Berry Global Group by 701.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 169,691 shares of the industrial products company’s stock worth $10,974,000 after purchasing an additional 148,512 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Berry Global Group by 277.9% during the fourth quarter. Headlands Technologies LLC now owns 2,793 shares of the industrial products company’s stock worth $181,000 after purchasing an additional 2,054 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Berry Global Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock worth $128,691,000 after purchasing an additional 6,833 shares in the last quarter. Finally, Diametric Capital LP acquired a new position in shares of Berry Global Group during the fourth quarter worth approximately $673,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.