Brokerages Set Berry Global Group, Inc. (NYSE:BERY) PT at $74.56

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

A number of equities analysts have commented on the company. Barclays boosted their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. 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 report on Monday, February 10th. StockNews.com started coverage on shares of Berry Global Group in a research note on Tuesday. They issued a “buy” rating for the company. Finally, UBS Group upped their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th.

Institutional Inflows and Outflows

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

Berry Global Group Trading Down 1.3 %

Shares of Berry Global Group stock opened at $67.97 on Wednesday. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $74.24. The stock has a market capitalization of $7.87 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a 50-day simple moving average of $70.07 and a 200 day simple moving average of $68.56. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35.

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 for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. Research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

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.