Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the industrial products company’s stock.

Several other analysts also recently commented on BERY. UBS Group increased their target price on 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 upped their price target on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Stock Performance

Shares of BERY opened at $67.12 on Thursday. 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 has a market cap of $7.77 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.54 and a beta of 1.14. The business’s 50 day moving average price is $69.69 and its 200-day moving average price is $68.53. Berry Global Group has a 52 week low of $55.24 and a 52 week high of $74.24.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion for 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%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 earnings per share. Equities research analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its holdings in Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares during the period. Quadrant Capital Group LLC increased its position in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after buying an additional 165 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after buying an additional 821 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after buying an additional 876 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its stake in shares of Berry Global Group by 7,390.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 1,626 shares during the period. Institutional investors own 95.36% of the company’s stock.

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.