Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

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

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada boosted their target price 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. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial upped their price objective on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Finally, UBS Group dropped their price objective on Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Trading Down 0.5 %

Shares of BERY opened at $68.09 on Monday. The stock has a fifty day moving average price of $67.53 and a two-hundred day moving average price of $66.71. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.43 and a beta of 1.16.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.31 dividend. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Berry Global Group during the 2nd quarter worth $27,000. UMB Bank n.a. lifted its holdings in Berry Global Group by 89.0% during the 4th 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. Capital Performance Advisors LLP acquired a new position in Berry Global Group during the 3rd quarter worth about $75,000. GAMMA Investing LLC lifted its stake in shares of Berry Global Group by 332.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 908 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Berry Global Group in the 3rd quarter valued at about $152,000. 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.