Berry Global Group, Inc. (NYSE:BERY) Given Consensus Recommendation of “Hold” by Analysts

Berry Global Group, Inc. (NYSE:BERY) has been given an average rating of “Hold” by the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $71.82.

A number of analysts recently commented on BERY shares. UBS Group cut their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company.

Berry Global Group Stock Performance

NYSE:BERY opened at $68.44 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The business has a 50 day moving average price of $65.52 and a 200-day moving average price of $61.54. The firm has a market cap of $7.83 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 4.55% and a return on equity of 27.32%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. Equities research analysts predict that Berry Global Group will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the stock. EdgePoint Investment Group Inc. grew its holdings in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after buying an additional 1,393,955 shares during the last quarter. Vanguard Group Inc. boosted its stake in Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after purchasing an additional 1,200,021 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Eminence Capital LP raised its stake in shares of Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares during the last quarter. Finally, Lyrical Asset Management LP raised its stake in shares of Berry Global Group by 1.3% in the fourth quarter. Lyrical Asset Management LP now owns 1,918,414 shares of the industrial products company’s stock worth $129,282,000 after purchasing an additional 24,563 shares during the last quarter. 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.