Berry Global Group (NYSE:BERY) Research Coverage Started at StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. UBS Group increased 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. Truist Financial increased 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 report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Down 3.6 %

Shares of NYSE:BERY opened at $66.34 on Wednesday. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.54 and a beta of 1.13. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $74.24. 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 company has a 50-day moving average price of $70.31 and a 200 day moving average price of $68.71.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $1.22 EPS. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.31 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.87%. Berry Global Group’s payout ratio is currently 30.92%.

Institutional Investors Weigh In On Berry Global Group

Several hedge funds have recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 306 shares in the last quarter. Quadrant Capital Group LLC increased its position in Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 165 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 821 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its stake 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 valued at $107,000 after purchasing an additional 1,626 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.