Berry Global Group (NYSE:BERY) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research note released on Saturday. The brokerage issued a buy rating on the industrial products company’s stock.

BERY has been the topic of a number of other research reports. Barclays lifted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada upped their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Finally, Truist Financial restated a “hold” rating and set a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $73.40.

Berry Global Group Stock Performance

Shares of BERY stock opened at $64.35 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.38 and a beta of 1.16. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The firm’s 50-day simple moving average is $68.01 and its two-hundred day simple moving average is $66.05.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.93%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s dividend payout ratio is 28.25%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors have recently modified their holdings of BERY. Commonwealth Equity Services LLC grew its position in Berry Global Group by 7.7% during the second quarter. Commonwealth Equity Services LLC now owns 10,459 shares of the industrial products company’s stock valued at $616,000 after acquiring an additional 748 shares during the last quarter. Natixis Advisors LLC raised its position in Berry Global Group by 5.5% in the 2nd quarter. Natixis Advisors LLC now owns 57,170 shares of the industrial products company’s stock worth $3,364,000 after purchasing an additional 2,997 shares during the period. Foster & Motley Inc. bought a new stake in Berry Global Group in the second quarter worth $430,000. National Bank of Canada FI lifted its stake in Berry Global Group by 3.1% in the second quarter. National Bank of Canada FI now owns 26,725 shares of the industrial products company’s stock worth $1,553,000 after purchasing an additional 794 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Berry Global Group by 79.5% during the second quarter. Victory Capital Management Inc. now owns 69,899 shares of the industrial products company’s stock valued at $4,114,000 after buying an additional 30,949 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Company Profile

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.