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

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Tuesday morning. The brokerage issued a buy rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Barclays raised their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial raised their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group boosted their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Down 1.3 %

BERY opened at $67.97 on Tuesday. Berry Global Group has a 12-month low of $55.24 and a 12-month high of $74.24. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The stock has a market capitalization of $7.87 billion, a PE ratio of 16.95, a P/E/G ratio of 1.54 and a beta of 1.13. The firm’s fifty day moving average price is $70.07 and its 200 day moving average price is $68.56.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.82%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the period. Quadrant Capital Group LLC raised its stake in Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 165 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 821 shares during the period. Venturi Wealth Management LLC boosted its position in Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. grew its stake in shares of Berry Global Group by 7,390.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,626 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

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.