UBS Group Has Lowered Expectations for Berry Global Group (NYSE:BERY) Stock Price

Berry Global Group (NYSE:BERY) had its price objective cut by UBS Group from $75.00 to $72.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial increased their target price on Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Saturday, January 4th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays boosted their price objective 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. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Stock Down 1.3 %

NYSE:BERY opened at $65.41 on Friday. 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 12-month low of $54.06 and a 12-month high of $73.31. The stock’s fifty day simple moving average is $67.56 and its 200-day simple moving average is $66.23. The firm has a market capitalization of $7.54 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.38 and a beta of 1.16.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.31 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 28.25%.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 in the company, valued at $2,119,889.64. The trade was 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 available at this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its holdings in Berry Global Group by 7.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,459 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 748 shares during the period. Victory Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 30,949 shares in the last quarter. Savant Capital LLC acquired a new stake in Berry Global Group in the 2nd quarter valued at $573,000. Quest Partners LLC grew its position in Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the period. Finally, AGF Management Ltd. raised its holdings in Berry Global Group by 69.4% during the second quarter. AGF Management Ltd. now owns 27,169 shares of the industrial products company’s stock worth $1,599,000 after buying an additional 11,127 shares during the last quarter. 95.36% of the stock is 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.