UBS Group Cuts Berry Global Group (NYSE:BERY) Price Target to $72.00

Berry Global Group (NYSE:BERY) had its price objective reduced by UBS Group from $75.00 to $72.00 in a report issued on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on BERY. Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Barclays upped their target price 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. StockNews.com began coverage on Berry Global Group in a report on Saturday, January 4th. They set a “buy” rating on the stock. Truist Financial increased their price objective on Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada lifted their target price on 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. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average target price of $73.30.

Berry Global Group Stock Performance

BERY stock opened at $65.41 on Friday. The stock’s 50 day simple moving average is $67.56 and its 200 day simple moving average is $66.23. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The firm has a market cap of $7.54 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Insider Buying and Selling

In related 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 transaction, the director now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. increased its holdings in shares of Berry Global Group by 2.2% during the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after buying an additional 336,186 shares in the last quarter. State Street Corp lifted its position in Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after buying an additional 360,857 shares in the last quarter. FMR LLC raised its stake in shares of Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Finally, Eminence Capital LP grew its stake in shares of Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares during the last quarter. Institutional investors and hedge funds 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.