StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

Analysts at StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Thursday. The firm set a “buy” rating on the industrial products company’s stock.

BERY has been the topic of a number of other reports. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Barclays raised their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial reissued a “hold” rating and issued a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.40.

Berry Global Group Trading Down 0.8 %

BERY stock opened at $64.20 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.38 and a beta of 1.14. The business has a fifty day simple moving average of $68.90 and a 200-day simple moving average of $65.68. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction 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 transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Berry Global Group by 9.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 355 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Berry Global Group during the second quarter worth $206,000. LRI Investments LLC raised its holdings 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 worth $36,000 after purchasing an additional 576 shares during the period. apricus wealth LLC lifted its position in shares of Berry Global Group by 12.5% in the 2nd quarter. apricus wealth LLC now owns 27,021 shares of the industrial products company’s stock worth $1,590,000 after buying an additional 2,995 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Berry Global Group by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,184,656 shares of the industrial products company’s stock valued at $69,717,000 after buying an additional 10,194 shares during the period. 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.