Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

by · The Markets Daily

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY – Free Report) in a report issued on Friday. The firm issued a buy rating on the industrial products company’s stock.

BERY has been the topic of several other research reports. UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial increased their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.75.

Read Our Latest Research Report on BERY

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $67.60 on Friday. The business has a 50-day simple moving average of $69.42 and a 200-day simple moving average of $68.54. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group has a one year low of $55.68 and a one year high of $74.24. The company has a market cap of $7.83 billion, a PE ratio of 16.86, a P/E/G ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in shares of Berry Global Group by 7.9% during the first quarter. Sound Income Strategies LLC now owns 78,692 shares of the industrial products company’s stock worth $5,494,000 after acquiring an additional 5,778 shares during the last quarter. SG Americas Securities LLC boosted its stake in Berry Global Group by 4,794.0% during the 1st quarter. SG Americas Securities LLC now owns 474,570 shares of the industrial products company’s stock worth $33,130,000 after purchasing an additional 464,873 shares during the period. UMB Bank n.a. boosted its stake in Berry Global Group by 92.2% during the 1st quarter. UMB Bank n.a. now owns 1,249 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 599 shares during the period. Merit Financial Group LLC grew its position in Berry Global Group by 26.5% during the 1st quarter. Merit Financial Group LLC now owns 3,913 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 820 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Berry Global Group by 6,996.9% in the first quarter. GAMMA Investing LLC now owns 72,672 shares of the industrial products company’s stock valued at $5,073,000 after purchasing an additional 71,648 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About Berry Global Group

(Get Free Report)

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.

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