Berry Global Group (NYSE:BERY) Cut to Neutral at UBS Group

UBS Group lowered shares of Berry Global Group (NYSE:BERY) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat reports. They currently have $75.00 price objective on the industrial products company’s stock, down from their previous price objective of $82.00.

Other equities research analysts also recently issued reports about the company. Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial reiterated a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Royal Bank of Canada upped their target price on shares of 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. Finally, StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and an average target price of $72.73.

Berry Global Group Trading Down 0.2 %

NYSE BERY opened at $71.55 on Friday. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.26 and a current ratio of 0.41. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The company’s 50 day moving average price is $68.22 and its 200 day moving average price is $64.44.

Berry Global Group Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.73%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s payout ratio is presently 25.06%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now 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 SEC, which is available through the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the second quarter worth $27,000. Quest Partners LLC lifted its position 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 worth $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC boosted its holdings in 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 acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group in the second quarter valued at about $42,000. Finally, American Capital Advisory LLC bought a new position in shares of Berry Global Group in the second quarter worth about $44,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.