Berry Global Group, Inc. (NYSE:BERY) Receives Average Rating of "Hold" from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY - Get Free Report) have received a consensus rating of "Hold" from the ten analysts that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $74.56.

Several analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a report on Thursday, November 21st. Barclays upped their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Truist Financial upped their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a report on Monday, February 10th. StockNews.com assumed coverage on shares of Berry Global Group in a report on Friday. They issued a "buy" rating on the stock. Finally, Citigroup reaffirmed a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th.

Berry Global Group Stock Down 1.4 %

NYSE:BERY opened at $71.68 on Friday. The company has a market cap of $8.30 billion, a PE ratio of 17.88, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $73.31. 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's 50 day moving average is $67.59 and its two-hundred day moving average is $67.72.

Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. Analysts anticipate that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, March 3rd. Berry Global Group's dividend payout ratio is presently 30.92%.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in the stock. Greenleaf Trust raised its position in Berry Global Group by 3.5% during the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock worth $285,000 after acquiring an additional 149 shares during the period. Quadrant Capital Group LLC raised its position in Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company's stock worth $48,000 after acquiring an additional 165 shares during the period. CIBC Asset Management Inc raised its position in Berry Global Group by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company's stock worth $229,000 after acquiring an additional 170 shares during the period. M&T Bank Corp raised its position in Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company's stock worth $396,000 after acquiring an additional 173 shares during the period. Finally, Creative Planning raised its position in Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock worth $464,000 after acquiring an additional 198 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.

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