Berry Global Group, Inc. (NYSE:BERY – Get Free Report) has earned an average rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $73.30.
Several analysts have commented on the company. StockNews.com assumed coverage on Berry Global Group in a report on Tuesday. They issued a “buy” rating for the company. Truist Financial upped their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada increased 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 note on Thursday, November 21st. UBS Group lowered their price objective on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th.
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Berry Global Group Price Performance
Berry Global Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.79%. 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 28.25%.
Institutional Trading of Berry Global Group
A number of hedge funds have recently made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its stake in shares of Berry Global Group by 2.2% in 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 acquiring an additional 336,186 shares in the last quarter. State Street Corp increased its holdings 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 purchasing an additional 360,857 shares during the last quarter. FMR LLC raised its position in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after buying an additional 27,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Berry Global Group by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 835,915 shares of the industrial products company’s stock worth $56,826,000 after buying an additional 18,736 shares in 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.
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