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

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

A number of other equities analysts have also commented on the stock. UBS Group boosted their price objective 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. Truist Financial lifted their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has a consensus rating of "Hold" and an average price target of $74.56.

Berry Global Group Stock Down 3.6 %

Shares of BERY traded down $2.47 during midday trading on Wednesday, reaching $66.34. 2,319,155 shares of the company were exchanged, compared to its average volume of 1,247,411. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group has a 1-year low of $55.24 and a 1-year high of $74.24. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.54 and a beta of 1.14. The stock has a 50-day moving average price of $70.31 and a 200-day moving average price of $68.73.

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

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.31 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.87%. Berry Global Group's dividend payout ratio (DPR) is 30.92%.

Hedge Funds Weigh In On Berry Global Group

Institutional investors have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. lifted its stake in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company's stock valued at $1,038,674,000 after buying an additional 336,186 shares during the last quarter. State Street Corp increased its holdings in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company's stock worth $260,487,000 after acquiring an additional 360,857 shares during the period. Geode Capital Management LLC lifted its position in Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company's stock valued at $128,691,000 after purchasing an additional 6,833 shares during the last quarter. Khrom Capital Management LLC lifted its position in Berry Global Group by 14.8% in the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company's stock valued at $105,413,000 after purchasing an additional 210,046 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Berry Global Group during the 4th quarter valued at about $105,092,000. 95.36% of the stock is owned by 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.