Berry Global Group, Inc. (NYSE:BERY) Receives $73.40 Average PT from Brokerages

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $73.40.

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada raised their price objective 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. Truist Financial reiterated a “hold” rating and issued a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th.

Berry Global Group Stock Down 0.4 %

Shares of BERY opened at $64.35 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $73.31. The business’s 50 day simple moving average is $68.01 and its 200-day simple moving average is $66.05.

Berry Global Group Increases Dividend

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

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the firm’s 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 transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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 BERY. EdgePoint Investment Group Inc. boosted its position in Berry Global Group by 2.2% during the third 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 purchasing an additional 336,186 shares in the last quarter. State Street Corp boosted its stake in Berry Global Group by 10.4% in 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 acquiring an additional 360,857 shares in the last quarter. FMR LLC grew its holdings in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Finally, Eminence Capital LP lifted its holdings 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 purchasing an additional 492,793 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.