Berry Global Group’s (BERY) “Hold” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Berry Global Group (NYSE:BERY) in a research report sent to investors on Wednesday,Benzinga reports. Truist Financial currently has a $72.00 price target on the industrial products company’s stock, down from their prior price target of $74.00.

BERY has been the subject of a number of other research reports. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Morgan Stanley started coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Berry Global Group has an average rating of “Hold” and an average price target of $72.00.

Berry Global Group Stock Up 1.1 %

Berry Global Group stock opened at $71.69 on Wednesday. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. The firm’s fifty day moving average price is $68.09 and its two-hundred day moving average price is $64.32. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $72.50. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.73%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is presently 25.06%.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hohimer Wealth Management LLC bought a new stake in Berry Global Group in the 3rd quarter valued at about $367,000. TD Private Client Wealth LLC raised its position in shares of Berry Global Group by 5,508.3% in the third quarter. TD Private Client Wealth LLC now owns 8,132 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 7,987 shares during the period. Neo Ivy Capital Management boosted its holdings in Berry Global Group by 159.7% in the 3rd quarter. Neo Ivy Capital Management now owns 35,322 shares of the industrial products company’s stock worth $2,402,000 after buying an additional 21,722 shares during the period. Geode Capital Management LLC grew its stake in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after buying an additional 27,437 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.