Berry Global Group (NYSE:BERY) Sets New 1-Year High – Time to Buy?

Berry Global Group, Inc. (NYSE:BERY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $73.31 and last traded at $73.04, with a volume of 871698 shares trading hands. The stock had previously closed at $72.56.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. 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 report on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group raised 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, StockNews.com began coverage on Berry Global Group in a research report on Friday, February 21st. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Down 0.3 %

The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.54 and a beta of 1.15. The company has a fifty day moving average price of $67.79 and a 200-day moving average price of $67.91.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results 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. 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 return on equity of 28.26% and a net margin of 3.99%. Berry Global Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. As a group, research analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company 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. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.71%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Institutional Investors Weigh In On Berry Global Group

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Berry Global Group by 1.4% in 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 purchasing an additional 27,437 shares during the period. Sound Income Strategies LLC lifted its position in shares of Berry Global Group by 13.4% during the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after buying an additional 8,622 shares in the last quarter. Hancock Whitney Corp acquired a new stake in Berry Global Group in the 3rd quarter valued at $1,065,000. Integrated Investment Consultants LLC acquired a new position in Berry Global Group during the third quarter worth $714,000. Finally, Barclays PLC lifted its holdings in Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after purchasing an additional 47,476 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.