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

Shares of Berry Global Group, Inc. (NYSE:BERY) have been given a consensus rating of “Hold” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $71.82.

Several research analysts have weighed in on BERY shares. UBS Group lowered their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Bank of America increased their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday. They set an “equal weight” rating and a $76.00 price target for the company.

Berry Global Group Stock Down 1.1 %

Shares of NYSE BERY opened at $66.82 on Friday. Berry Global Group has a 1 year low of $53.92 and a 1 year high of $69.93. The company has a market capitalization of $7.64 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.36 and a beta of 1.17. The company has a 50 day simple moving average of $63.87 and a 200-day simple moving average of $60.84. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. On average, equities research analysts predict that Berry Global Group will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is presently 26.13%.

Hedge Funds Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. M&T Bank Corp boosted its position in shares of Berry Global Group by 2.0% during the 4th quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock worth $597,000 after acquiring an additional 173 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Berry Global Group by 1.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock worth $555,000 after purchasing an additional 176 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Berry Global Group by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the industrial products company’s stock valued at $2,020,000 after purchasing an additional 200 shares in the last quarter. State of Michigan Retirement System increased its stake in Berry Global Group by 0.7% in the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock valued at $1,724,000 after purchasing an additional 200 shares during the last quarter. Finally, Guardian Wealth Management Inc. raised its holdings in Berry Global Group by 1.0% during the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 287 shares in the last quarter. Institutional investors and hedge funds 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.