Berry Global Group (NYSE:BERY) Stock Price Expected to Rise, Truist Financial Analyst Says

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

BERY has been the topic of several other reports. StockNews.com assumed coverage on shares of Berry Global Group in a report on Wednesday, February 5th. They issued a “buy” rating on the stock. UBS Group increased their target price 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. Royal Bank of Canada increased their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Finally, Barclays increased their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Up 0.0 %

Shares of NYSE BERY opened at $69.92 on Monday. The company’s 50 day simple moving average is $67.30 and its 200 day simple moving average is $67.42. Berry Global Group has a fifty-two week low of $55.24 and a fifty-two week high of $73.31. The firm has a market capitalization of $8.10 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.50 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 0.80.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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%. Berry Global Group’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. On average, analysts predict that Berry Global Group will post 6.3 EPS for the current year.

Berry Global Group Dividend Announcement

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 given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Greenleaf Trust grew its position in Berry Global Group by 3.5% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 149 shares in the last quarter. CIBC Asset Management Inc grew its position in Berry Global Group by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 170 shares in the last quarter. M&T Bank Corp grew its position in Berry Global Group by 3.1% in the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 173 shares in the last quarter. Creative Planning grew its position in Berry Global Group by 3.0% in the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 198 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Berry Global Group by 2.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 241 shares in the last quarter. 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.