Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY - Free Report) in a report released on Monday. The brokerage issued a buy rating on the industrial products company's stock.

A number of other equities analysts have also recently issued reports on BERY. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a report on Thursday, November 21st. Truist Financial raised their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Barclays raised their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Finally, Citigroup restated a "neutral" rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Berry Global Group has an average rating of "Hold" and a consensus price target of $74.56.

Remove Ads

Berry Global Group Trading Down 0.4 %

Shares of Berry Global Group stock traded down $0.28 on Monday, hitting $70.34. The stock had a trading volume of 1,359,158 shares, compared to its average volume of 1,175,157. The stock has a 50 day moving average of $69.85 and a 200 day moving average of $68.53. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $74.24. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The firm has a market capitalization of $8.15 billion, a P/E ratio of 17.55, a PEG ratio of 1.54 and a beta of 1.13.

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, beating analysts' consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion during 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%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. Berry Global Group's payout ratio is 30.92%.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently bought and sold shares of BERY. UMB Bank n.a. increased its stake in shares of Berry Global Group by 89.0% during 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 increased its stake 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 valued at $48,000 after buying an additional 165 shares during the period. Steward Partners Investment Advisory LLC increased its stake 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 valued at $55,000 after buying an additional 821 shares during the period. Venturi Wealth Management LLC increased its stake 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 valued at $69,000 after buying an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. increased its stake 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 valued at $107,000 after buying an additional 1,626 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.