Berry Global Group (NYSE:BERY) Sets New 52-Week High Following Analyst Upgrade

Shares of Berry Global Group, Inc. (NYSE:BERY) hit a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $68.00 to $74.00. Truist Financial currently has a hold rating on the stock. Berry Global Group traded as high as $69.94 and last traded at $69.79, with a volume of 41243 shares traded. The stock had previously closed at $69.29.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, October 11th. UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.40.

Institutional Investors Weigh In On Berry Global Group

Large investors have recently bought and sold shares of the stock. FORA Capital LLC acquired a new stake in shares of Berry Global Group during the first quarter worth $1,492,000. Thompson Investment Management Inc. boosted its holdings in shares of Berry Global Group by 74.0% during the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after purchasing an additional 46,379 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Berry Global Group by 8.3% during the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after purchasing an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Berry Global Group by 11.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after purchasing an additional 13,398 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 9,483 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Up 1.0 %

The firm has a fifty day moving average price of $66.49 and a 200-day moving average price of $62.30. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.10 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $1.90 EPS. As a group, sell-side analysts forecast that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

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.