Brokerages Set Berry Global Group, Inc. (NYSE:BERY) PT at $74.56

Berry Global Group, Inc. (NYSE:BERY) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $74.56.

Several research firms recently issued reports on BERY. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial boosted their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Finally, StockNews.com initiated coverage on Berry Global Group in a report on Friday, February 21st. They set a “buy” rating on the stock.

Berry Global Group Stock Performance

NYSE:BERY opened at $71.93 on Friday. Berry Global Group has a 1-year low of $55.24 and a 1-year high of $73.31. The stock has a market cap of $8.33 billion, a P/E ratio of 17.94, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The firm has a 50-day moving average of $67.94 and a two-hundred day moving average of $67.94.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $1.22 EPS. Berry Global Group’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal 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 $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BERY. Forum Financial Management LP acquired a new position in shares of Berry Global Group during the fourth quarter valued at $259,000. Toronto Dominion Bank bought a new stake in Berry Global Group in the 4th quarter valued at about $3,234,000. Vise Technologies Inc. acquired a new position in Berry Global Group during the 4th quarter valued at about $432,000. CSS LLC IL grew its position in Berry Global Group by 139.4% in the 4th quarter. CSS LLC IL now owns 37,260 shares of the industrial products company’s stock worth $2,410,000 after purchasing an additional 21,695 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Berry Global Group by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 407,503 shares of the industrial products company’s stock valued at $26,353,000 after purchasing an additional 53,582 shares during the period. 95.36% of the stock is currently owned by institutional investors.

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.