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

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $74.56.

A number of brokerages recently commented on BERY. Barclays lifted their price objective on 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. UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Finally, Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. grew its stake in shares of Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares in the last quarter. State Street Corp grew its stake in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares in the last quarter. FMR LLC grew its stake in shares of Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Berry Global Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after buying an additional 6,833 shares in the last quarter. Finally, Khrom Capital Management LLC grew its stake in shares of Berry Global Group by 14.8% in the fourth quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after buying an additional 210,046 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of 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. The business’s 50 day moving average price is $69.76 and its 200-day moving average price is $68.52. The firm has a market capitalization of $8.23 billion, a PE ratio of 17.72, a P/E/G ratio of 1.54 and a beta of 1.13. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (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 analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. As a group, equities research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.74%. Berry Global Group’s dividend payout ratio is currently 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.