Brokerages Set Berry Global Group, Inc. (NYSE:BERY) PT at $71.22

Berry Global Group, Inc. (NYSE:BERY) has been given a consensus recommendation of “Hold” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $71.22.

BERY has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Truist Financial boosted their price target on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th.

Berry Global Group Stock Up 0.7 %

Shares of BERY opened at $66.80 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $71.63. The firm’s 50 day moving average is $67.90 and its 200-day moving average is $64.08. The stock has a market capitalization of $7.66 billion, a PE ratio of 14.27, a P/E/G ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.31 dividend. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.86%. Berry Global Group’s payout ratio is currently 26.50%.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was 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 directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. lifted its holdings 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 valued at $1,038,674,000 after purchasing an additional 336,186 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after purchasing an additional 1,200,021 shares during the last quarter. State Street Corp boosted its holdings in Berry Global Group by 10.4% during the third 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 increased its stake in 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 buying an additional 1,055,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares in the last quarter. 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.