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

Berry Global Group, Inc. (NYSE:BERY) has earned an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $73.73.

A number of equities analysts have recently issued reports on BERY shares. Morgan Stanley began coverage on 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup restated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Tuesday, December 3rd. They issued a “buy” rating on the stock. Finally, Truist Financial reissued a “hold” rating and issued a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred 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 sale, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. grew its holdings in Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares in the last quarter. State Street Corp raised its stake in Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares in the last quarter. FMR LLC lifted its position in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares during the last quarter. Finally, Eminence Capital LP raised its position in shares of Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after buying an additional 492,793 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Down 0.2 %

Shares of Berry Global Group stock opened at $69.65 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The company’s 50 day moving average is $68.84 and its 200 day moving average is $65.21.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.78%. Berry Global Group’s dividend payout ratio is 28.25%.

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.