Berry Global Group, Inc. (NYSE:BERY) Given Average Rating of “Hold” by Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have been given a consensus rating of “Hold” by the twelve analysts that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $71.82.

A number of equities analysts have recently commented on BERY shares. UBS Group cut their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company.

Berry Global Group Stock Performance

Shares of BERY stock opened at $68.88 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The company has a 50 day moving average price of $65.83 and a 200 day moving average price of $61.70.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the firm posted $1.90 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts anticipate that Berry Global Group will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Hedge Funds Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BERY. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group during the second quarter worth about $27,000. Quest Partners LLC raised its position in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group during the second quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group during the 2nd quarter valued at $44,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.