StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a research report report published on Wednesday. The firm issued a buy rating on the industrial products company’s stock.

Several other research analysts have also issued reports on BERY. 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 research report on Friday, February 7th. Truist Financial upped their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

BERY stock opened at $66.34 on Wednesday. Berry Global Group has a one year low of $55.24 and a one year high of $74.24. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The firm has a 50-day simple moving average of $70.31 and a two-hundred day simple moving average of $68.71.

Berry Global Group (NYSE:BERY) last announced its earnings results 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. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.22 earnings per share. On average, equities analysts forecast that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.31 dividend. 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 presently 30.92%.

Institutional Trading of Berry Global Group

Several large investors have recently made changes to their positions in the business. CIBRA Capital Ltd purchased a new stake in Berry Global Group in the fourth quarter valued at $6,593,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Berry Global Group by 142.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,046 shares of the industrial products company’s stock worth $2,396,000 after buying an additional 21,766 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Berry Global Group during the fourth quarter worth about $4,799,000. Forum Financial Management LP purchased a new position in Berry Global Group during the fourth quarter valued at approximately $259,000. Finally, Toronto Dominion Bank acquired a new position in Berry Global Group in the fourth quarter valued at approximately $3,234,000. 95.36% of the stock is owned by hedge funds and other 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.