Brokerages Set Berry Global Group, Inc. (NYSE:BERY) Price Target at $75.13

Berry Global Group, Inc. (NYSE:BERY) has received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $74.29.

A number of research analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Monday. They set a “buy” rating on the stock. Truist Financial reduced their price target on Berry Global Group from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in shares of Berry Global Group by 66.8% in the 1st quarter. Bessemer Group Inc. now owns 507 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 203 shares in the last quarter. UMB Bank n.a. boosted its stake in Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after buying an additional 306 shares in the last quarter. Quadrant Capital Group LLC grew its position in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 165 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Berry Global Group by 1,101.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 685 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 628 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 821 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

NYSE:BERY opened at $67.69 on Thursday. The stock has a 50 day simple moving average of $68.18 and a 200 day simple moving average of $68.50. The stock has a market cap of $7.84 billion, a P/E ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group has a 1-year low of $57.52 and a 1-year high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Research analysts anticipate that Berry Global Group will post 6.25 earnings per share for the current year.

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.