Berry Global Group (NYSE:BERY) Price Target Raised to $76.00

Berry Global Group (NYSE:BERY - Free Report) had its price objective hoisted by Truist Financial from $74.00 to $76.00 in a research report released on Monday,Benzinga reports. Truist Financial currently has a hold rating on the industrial products company's stock.

Other equities analysts have also recently issued research reports about the company. Barclays raised 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. Citigroup restated a "neutral" rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com started coverage on Berry Global Group in a research report on Wednesday, February 5th. They set a "buy" rating 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 company a "sector perform" rating in a research note on Thursday, November 21st. Finally, 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. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Berry Global Group presently has an average rating of "Hold" and an average target price of $74.56.

Berry Global Group Stock Up 0.8 %

NYSE BERY traded up $0.55 during trading on Monday, hitting $70.47. The stock had a trading volume of 1,017,695 shares, compared to its average volume of 1,334,328. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $73.31. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.80 and a current ratio of 1.61. The company's 50-day moving average price is $67.30 and its two-hundred day moving average price is $67.42. The company has a market capitalization of $8.16 billion, a PE ratio of 17.59, a P/E/G ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. As a group, sell-side analysts forecast that Berry Global Group will post 6.3 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, March 3rd. Berry Global Group's dividend payout ratio is presently 30.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BERY. UMB Bank n.a. lifted its position in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of 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 worth $48,000 after purchasing an additional 165 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock worth $55,000 after purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC boosted its stake 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 valued at $69,000 after purchasing an additional 876 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Berry Global Group in the 3rd quarter valued at $75,000. Institutional investors and hedge funds 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.