Berry Global Group (NYSE:BERY) Now Covered by Analysts at StockNews.com

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

Other analysts have also issued research reports about the company. Barclays boosted their price target on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Royal Bank of Canada boosted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research note on Thursday, November 21st. UBS Group decreased their target price on shares of Berry Global Group from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Truist Financial increased their price objective on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $73.40.

Berry Global Group Stock Performance

NYSE:BERY traded down $0.06 during trading hours on Wednesday, reaching $69.94. The company had a trading volume of 1,023,687 shares, compared to its average volume of 1,382,934. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.50 and a beta of 1.15. Berry Global Group has a 52 week low of $55.01 and a 52 week high of $73.31. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 3.35. The firm's 50 day moving average price is $67.38 and its 200-day moving average price is $67.27.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.22 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Berry Global Group will post 6.3 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group's dividend payout ratio (DPR) is presently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC raised its position in shares of Berry Global Group by 25.4% during the 4th quarter. HighTower Advisors LLC now owns 5,806 shares of the industrial products company's stock valued at $375,000 after buying an additional 1,177 shares in the last quarter. AGF Management Ltd. increased its stake in Berry Global Group by 6.2% during the fourth quarter. AGF Management Ltd. now owns 30,011 shares of the industrial products company's stock worth $1,941,000 after acquiring an additional 1,748 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Berry Global Group by 17.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,840 shares of the industrial products company's stock valued at $1,800,000 after purchasing an additional 4,181 shares during the period. AlphaQuest LLC lifted its stake in shares of Berry Global Group by 418.4% in the 4th quarter. AlphaQuest LLC now owns 44,910 shares of the industrial products company's stock valued at $2,904,000 after purchasing an additional 36,247 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $38,323,000. Institutional investors 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.