Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research report report published on Tuesday. The firm issued a buy rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the company. Truist Financial reiterated a “hold” rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada lifted their price objective 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. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays boosted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Stock Up 0.1 %

BERY stock opened at $71.35 on Tuesday. The stock has a market cap of $8.22 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The firm’s 50-day simple moving average is $68.75 and its 200 day simple moving average is $65.01. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.74%. 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 28.25%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the company’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 sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the second quarter worth $27,000. Quest Partners LLC boosted 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 period. LRI Investments LLC grew its stake in Berry Global Group by 1,309.1% during the 2nd 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group in the 2nd quarter valued at about $42,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Berry Global Group in the second quarter worth approximately $44,000. 95.36% of the stock is currently owned by hedge funds and other 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.