Berry Global Group (NYSE:BERY) Reaches New 52-Week High - Still a Buy?

Berry Global Group, Inc. (NYSE:BERY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.24 and last traded at $73.86, with a volume of 135394 shares changing hands. The stock had previously closed at $73.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 21st. Barclays upped their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Citigroup restated a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Sunday. They issued a "buy" rating for the company. Finally, UBS Group raised their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.56.

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Berry Global Group Stock Performance

The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The firm has a fifty day simple moving average of $69.35 and a two-hundred day simple moving average of $68.44.

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. On average, analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.80%. Berry Global Group's payout ratio is presently 30.92%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Greenleaf Trust increased its holdings in Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock worth $285,000 after buying an additional 149 shares during the period. Quadrant Capital Group LLC increased its stake in shares of 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 acquiring an additional 165 shares during the period. CIBC Asset Management Inc raised its holdings in shares of 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 purchasing an additional 170 shares during the last quarter. M&T Bank Corp lifted 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 valued at $396,000 after purchasing an additional 173 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Berry Global Group by 2.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company's stock valued at $649,000 after purchasing an additional 241 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.