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

Berry Global Group (NYSE:BERY) had its price objective upped by Truist Financial from $74.00 to $76.00 in a report published on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other equities research analysts have also issued reports on BERY. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada upped their price target on 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 reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. UBS Group upped their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Barclays lifted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note 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. According to data from MarketBeat, Berry Global Group has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

BERY opened at $70.02 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 3.35. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $73.31. The firm has a 50 day moving average of $67.35 and a two-hundred day moving average of $67.36. The firm has a market capitalization of $8.11 billion, a PE ratio of 17.46, a P/E/G ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its earnings results 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 firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. On average, analysts anticipate that Berry Global Group will post 6.3 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. Berry Global Group’s payout ratio is currently 30.92%.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors have recently bought and sold shares of the company. Creative Planning lifted its holdings in Berry Global Group by 5.9% during the 2nd quarter. Creative Planning now owns 6,629 shares of the industrial products company’s stock worth $390,000 after buying an additional 372 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Berry Global Group in the 3rd quarter valued at $152,000. GAMMA Investing LLC raised its stake in Berry Global Group by 332.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 908 shares in the last quarter. CWM LLC lifted its position in Berry Global Group by 340.0% in the third quarter. CWM LLC now owns 8,843 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 6,833 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its stake in Berry Global Group by 22.4% in the third quarter. Simplicity Wealth LLC now owns 8,647 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 1,582 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

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.