Barclays Raises Berry Global Group (NYSE:BERY) Price Target to $75.00

Berry Global Group (NYSE:BERY) had its price target lifted by Barclays from $64.00 to $75.00 in a report published on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

A number of other analysts have also weighed in on BERY. Morgan Stanley assumed 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. Royal Bank of Canada increased their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, UBS Group lowered 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 research note on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Trading Up 1.1 %

Shares of BERY opened at $72.35 on Wednesday. The company’s fifty day simple moving average is $68.51 and its 200-day simple moving average is $64.70. The company has a market cap of $8.29 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.43 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.26 and a debt-to-equity ratio of 2.08. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.71%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 28.25%.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was 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. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in Berry Global Group in the second quarter worth about $27,000. Quest Partners LLC raised its stake in shares of 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 in the last quarter. LRI Investments LLC lifted its position 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 last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group in the second quarter valued at approximately $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group in the second quarter valued at approximately $44,000. Institutional investors 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.