Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Friday morning. The brokerage issued a buy rating on the industrial products company’s stock.

BERY has been the topic of several other research reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays boosted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.40.

Berry Global Group Stock Performance

NYSE BERY opened at $65.02 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The business has a 50 day simple moving average of $68.52 and a two-hundred day simple moving average of $65.80. The stock has a market capitalization of $7.49 billion, a PE ratio of 14.81, a P/E/G ratio of 1.38 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.31 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.91%. 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 presently 28.25%.

Insider Transactions at Berry Global Group

In other 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 transaction, the director now directly 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 SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group in the 2nd quarter valued at $27,000. Quest Partners LLC grew its holdings in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 548 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Berry Global Group during the second quarter worth about $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Berry Global Group during the third quarter worth about $75,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Berry Global Group by 332.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 908 shares during the last quarter. 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.