Berry Global Group’s (BERY) Overweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Berry Global Group (NYSE:BERY) in a report issued on Monday morning, MarketBeat reports. The brokerage currently has a $76.00 target price on the industrial products company’s stock, up from their prior target price of $70.00.

A number of other equities analysts also recently weighed in on BERY. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial restated a “hold” rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. 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 note on Thursday, November 21st. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Stock Up 1.2 %

NYSE:BERY opened at $71.57 on Monday. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 2.57. The stock’s 50 day moving average price is $68.37 and its two-hundred day moving average price is $64.60.

Berry Global Group Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.73%. Berry Global Group’s payout ratio is 25.06%.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the firm’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 transaction of $981,820.00. Following the transaction, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

A number of large investors have recently added to or reduced their stakes in BERY. M&T Bank Corp raised its position in shares of Berry Global Group by 3.1% in the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after buying an additional 173 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Berry Global Group by 1.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after purchasing an additional 176 shares in the last quarter. Creative Planning lifted its stake in Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 198 shares during the last quarter. Guardian Wealth Management Inc. boosted its holdings in shares of Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 287 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Berry Global Group by 9.1% in the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 311 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.