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

Analysts at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Saturday. The brokerage set a “buy” rating on the industrial products company’s stock.

BERY has been the topic of a number of other reports. Truist Financial reissued a “hold” rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Citigroup restated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Royal Bank of Canada upped their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.40.

Berry Global Group Stock Performance

Shares of BERY opened at $64.35 on Friday. 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 stock has a market cap of $7.41 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.38 and a beta of 1.16. The business’s 50 day moving average price is $68.01 and its 200-day moving average price is $66.02. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31.

Insider Buying and Selling 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 shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EdgePoint Investment Group Inc. boosted its position in shares of Berry Global Group by 10.3% in the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after purchasing an additional 1,393,955 shares during the period. FMR LLC grew its stake in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after acquiring an additional 807,211 shares during the last quarter. Eminence Capital LP lifted its stake in Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Berry Global Group during the 2nd quarter valued at about $25,688,000. 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.