Berry Global Group’s (BERY) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of Berry Global Group (NYSE:BERY) in a research note published on Monday morning, Marketbeat reports. The brokerage currently has a $76.00 target price on the industrial products company’s stock, up from their prior target price of $70.00.

Several other brokerages also recently commented on BERY. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $82.00 to $75.00 in a report on Friday. Morgan Stanley initiated 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 objective for the company. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday. 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 research report on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.73.

Berry Global Group Trading Down 0.2 %

Shares of Berry Global Group stock opened at $71.55 on Monday. The company has a market capitalization of $8.20 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. The stock has a fifty day simple moving average of $68.22 and a 200 day simple moving average of $64.44. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The company has a current ratio of 0.41, a quick ratio of 0.26 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 represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 25.06%.

Insider Activity

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 shares were 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 approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the 2nd quarter valued at $27,000. Quest Partners LLC grew its holdings in Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC increased its position in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group in the second quarter worth about $42,000. Finally, American Capital Advisory LLC bought a new position in shares of Berry Global Group in the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.