Berry Global Group, Inc. (NYSE:BERY) Given Consensus Recommendation of "Hold" by Analysts

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) has earned an average rating of "Hold" from the nine analysts that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $74.56.

Several brokerages have recently issued reports on BERY. Truist Financial boosted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, February 10th. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Monday, March 17th. They set a "buy" rating for the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays boosted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Finally, Citigroup restated a "neutral" rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th.

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Berry Global Group Trading Down 2.9 %

Shares of NYSE BERY traded down $2.05 during trading on Wednesday, hitting $68.13. 2,117,919 shares of the company traded hands, compared to its average volume of 1,180,874. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24. The company has a 50-day moving average price of $69.98 and a 200-day moving average price of $68.54. The firm has a market capitalization of $7.89 billion, a P/E ratio of 16.99, a P/E/G 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.

Berry Global Group (NYSE:BERY - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the company earned $1.22 EPS. The business's quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that Berry Global Group will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. Berry Global Group's dividend payout ratio (DPR) is 30.92%.

Institutional Trading of Berry Global Group

Several institutional investors have recently modified their holdings of BERY. UMB Bank n.a. lifted 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 buying an additional 306 shares during the period. Quadrant Capital Group LLC raised its position in shares of 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 purchasing an additional 165 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock worth $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC raised its position in shares of 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 worth $69,000 after purchasing an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. raised its position 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 worth $107,000 after purchasing an additional 1,626 shares during the period. Institutional investors and hedge funds 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.