Berry Global Group (NYSE:BERY) Sets New 52-Week High – Time to Buy?

Berry Global Group, Inc. (NYSE:BERY) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $74.24 and last traded at $73.86, with a volume of 135394 shares traded. The stock had previously closed at $73.03.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial increased their price target 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Royal Bank of Canada increased their price target 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. StockNews.com started coverage on shares of Berry Global Group in a research report on Sunday. They set a “buy” rating on the stock. Finally, UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Stock Performance

The company has a market cap of $8.29 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The stock’s 50-day moving average price is $69.08 and its 200 day moving average price is $68.39.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating 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 company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal 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 given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio is 30.92%.

Hedge Funds Weigh In On Berry Global Group

A number of institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Berry Global Group in the fourth quarter worth $4,799,000. Forum Financial Management LP acquired a new stake in shares of Berry Global Group in the fourth quarter worth $259,000. Toronto Dominion Bank acquired a new stake in shares of Berry Global Group in the fourth quarter worth $3,234,000. Vise Technologies Inc. acquired a new stake in shares of Berry Global Group in the fourth quarter worth $432,000. Finally, CSS LLC IL grew its stake in shares of Berry Global Group by 139.4% in the fourth quarter. CSS LLC IL now owns 37,260 shares of the industrial products company’s stock worth $2,410,000 after acquiring an additional 21,695 shares during the last quarter. Institutional investors 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.