Berry Global Group, Inc. (NYSE:BERY) Receives Average Rating of “Hold” from Brokerages

Berry Global Group, Inc. (NYSE:BERY) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $74.56.

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com began coverage on Berry Global Group in a research report on Monday. They set a “buy” rating on the stock. Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group increased their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th.

Institutional Trading of Berry Global Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after purchasing an additional 27,437 shares during the period. Sound Income Strategies LLC grew its holdings in Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after purchasing an additional 8,622 shares during the period. Hancock Whitney Corp acquired a new stake in Berry Global Group in the third quarter valued at approximately $1,065,000. Integrated Investment Consultants LLC acquired a new stake in Berry Global Group in the third quarter valued at approximately $714,000. Finally, Barclays PLC grew its holdings in Berry Global Group by 87.1% in the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after purchasing an additional 47,476 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Stock Up 0.8 %

NYSE:BERY opened at $71.07 on Wednesday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group has a 1-year low of $55.24 and a 1-year high of $74.24. The company has a 50-day moving average of $69.76 and a 200 day moving average of $68.52. The firm has a market cap of $8.23 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data 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. 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. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Berry Global Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Berry Global Group Company Profile

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.