Berry Global Group (NYSE:BERY) Reaches New 12-Month High - What's Next?

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $73.75 and last traded at $71.76, with a volume of 3685095 shares. The stock had previously closed at $72.17.

Analysts Set New Price Targets

A number of analysts have recently commented on BERY shares. StockNews.com initiated coverage on Berry Global Group in a research note on Saturday, March 1st. They issued a "buy" rating on the stock. Royal Bank of Canada boosted their price target 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. UBS Group boosted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Citigroup restated a "neutral" rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of "Hold" and an average target price of $74.56.

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Berry Global Group Stock Performance

The firm's 50 day simple moving average is $68.75 and its 200-day simple moving average is $68.24. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 18.23, 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 quick ratio of 1.09 and a current ratio of 1.61.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. Berry Global Group's quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. Berry Global Group's dividend payout ratio is currently 30.92%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in shares of Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 306 shares in the last quarter. Quadrant Capital Group LLC boosted 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 valued at $48,000 after purchasing an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in 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 valued at $55,000 after purchasing an additional 821 shares in the last quarter. Venturi Wealth Management LLC increased its position in Berry Global Group by 463.5% in the 4th 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 last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Berry Global Group during the 3rd quarter worth about $75,000. 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.