Berry Global Group (NYSE:BERY) Stock Price Expected to Rise, UBS Group Analyst Says

Berry Global Group (NYSE:BERY) had its price target upped by UBS Group from $72.00 to $73.00 in a research note published on Friday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada lifted their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial increased their target price on Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Finally, Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.40.

Berry Global Group Price Performance

Berry Global Group stock opened at $69.94 on Friday. The company has a 50-day moving average price of $67.43 and a 200 day moving average price of $67.22. The stock has a market cap of $8.09 billion, a P/E ratio of 15.93, a PEG ratio of 1.45 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. Berry Global Group has a 12-month low of $55.01 and a 12-month high of $73.31.

Berry Global Group (NYSE:BERY) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 26.32% and a net margin of 4.21%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 earnings per share. Sell-side analysts anticipate that Berry Global Group will post 6.31 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

Institutional Trading of Berry Global Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC raised its position in Berry Global Group by 25.4% in the 4th quarter. HighTower Advisors LLC now owns 5,806 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 1,177 shares during the last quarter. AGF Management Ltd. increased its stake in Berry Global Group by 6.2% in the fourth quarter. AGF Management Ltd. now owns 30,011 shares of the industrial products company’s stock valued at $1,941,000 after purchasing an additional 1,748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Berry Global Group by 17.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,840 shares of the industrial products company’s stock valued at $1,800,000 after buying an additional 4,181 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Berry Global Group by 418.4% during the fourth quarter. AlphaQuest LLC now owns 44,910 shares of the industrial products company’s stock worth $2,904,000 after buying an additional 36,247 shares during the period. Finally, Alpine Associates Management Inc. purchased a new position in shares of Berry Global Group during the fourth quarter worth about $38,323,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

About Berry Global Group

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.