Berry Global Group (NYSE:BERY) Downgraded to “Neutral” Rating by UBS Group

UBS Group lowered shares of Berry Global Group (NYSE:BERY) from a buy rating to a neutral rating in a report issued on Friday, MarketBeat reports. UBS Group currently has $75.00 price target on the industrial products company’s stock, down from their prior price target of $82.00.

Several other equities analysts have also weighed in on the company. Royal Bank of Canada lifted their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Morgan Stanley started coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Finally, Truist Financial restated a “hold” rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $72.73.

Berry Global Group Stock Down 0.2 %

Shares of BERY opened at $71.55 on Friday. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.40 and a beta of 1.14. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The stock’s 50-day moving average price is $68.22 and its 200-day moving average price is $64.44. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

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

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value 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 $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 9,483 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Berry Global Group by 39.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company’s stock valued at $1,162,000 after purchasing an additional 5,466 shares during the period. Quadrature Capital Ltd increased its stake in Berry Global Group by 11.8% in the first quarter. Quadrature Capital Ltd now owns 8,285 shares of the industrial products company’s stock valued at $501,000 after purchasing an additional 872 shares during the last quarter. LRI Investments LLC purchased a new position in Berry Global Group during the first quarter worth about $38,000. Finally, BOKF NA lifted its position in Berry Global Group by 26.3% during the first quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock worth $4,809,000 after buying an additional 16,497 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.