Berry Global Group (NYSE:BERY) Price Target Raised to $73.00 at Royal Bank of Canada

Berry Global Group (NYSE:BERY) had its target price increased by Royal Bank of Canada from $69.00 to $73.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on BERY. Morgan Stanley initiated coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Truist Financial reiterated a “hold” rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Price Performance

Berry Global Group stock traded up $0.53 during trading hours on Thursday, reaching $71.46. 103,985 shares of the stock were exchanged, compared to its average volume of 1,063,618. The company has a market cap of $8.19 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. 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 twelve month low of $54.06 and a twelve month high of $72.50. The stock has a 50 day moving average of $67.99 and a two-hundred day moving average of $64.27.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.74%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 25.06%.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group 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 completion of the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds have recently bought and sold shares of BERY. EdgePoint Investment Group Inc. raised its stake in Berry Global Group by 2.2% in the 3rd 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 acquiring an additional 336,186 shares during the period. Vanguard Group Inc. raised its stake in Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares during the period. State Street Corp raised its stake in Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after acquiring an additional 360,857 shares during the period. FMR LLC increased its position in shares of Berry Global Group by 38.4% during the third 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 period. Finally, Dimensional Fund Advisors LP increased 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 valued at $204,365,000 after buying an additional 807,211 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.