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

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research report released on Sunday. The firm issued a buy rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup restated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada raised their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Truist Financial lifted 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, Barclays upped their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Stock Down 1.3 %

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

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.31 per share. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.90%. Berry Global Group’s payout ratio is currently 28.25%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of Berry Global Group during the 3rd quarter worth about $1,065,000. Integrated Investment Consultants LLC acquired a new position in Berry Global Group during the third quarter worth approximately $714,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after acquiring an additional 37,242 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in Berry Global Group by 370.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock valued at $6,760,000 after acquiring an additional 90,428 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Company Profile

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.