Berry Global Group (NYSE:BERY) Sets New 12-Month High - Should You Buy?

Berry Global Group, Inc. (NYSE:BERY - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $73.31 and last traded at $73.04, with a volume of 871698 shares trading hands. The stock had previously closed at $72.56.

Analyst Ratings Changes

Several brokerages have recently weighed in on BERY. Barclays upped their price objective 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. UBS Group upped their target price on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. StockNews.com started coverage on Berry Global Group in a report on Saturday. They set a "buy" rating for the company. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Royal Bank of Canada increased their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 21st. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group presently has an average rating of "Hold" and an average price target of $74.56.

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Berry Global Group Trading Up 0.6 %

The company has a market cap of $8.35 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The business has a 50-day moving average price of $68.24 and a two-hundred day moving average price of $68.07.

Berry Global Group (NYSE:BERY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS 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 return on equity of 28.26% and a net margin of 3.99%. The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share. On average, analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. Berry Global Group's dividend payout ratio is presently 30.92%.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Berry Global Group in the fourth quarter valued at about $4,799,000. Forum Financial Management LP bought a new stake in Berry Global Group in the fourth quarter valued at about $259,000. Toronto Dominion Bank acquired a new position in Berry Global Group in the fourth quarter valued at about $3,234,000. Vise Technologies Inc. acquired a new position in Berry Global Group in the fourth quarter valued at about $432,000. Finally, CSS LLC IL grew its stake in Berry Global Group by 139.4% in the fourth quarter. CSS LLC IL now owns 37,260 shares of the industrial products company's stock valued at $2,410,000 after acquiring an additional 21,695 shares during the period. Institutional investors own 95.36% of the company's stock.

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.