Berry Global Group (NYSE:BERY) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research note released on Tuesday. The brokerage issued a buy rating on the industrial products company’s stock.

Several other analysts have also recently commented on BERY. UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Truist Financial reiterated a “hold” rating and set a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Trading Down 1.7 %

Shares of NYSE:BERY opened at $69.77 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.42 and a beta of 1.14. The business has a 50-day moving average price of $68.83 and a 200-day moving average price of $65.08.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is presently 28.25%.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on 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. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Investment Consultants LLC acquired a new position in Berry Global Group in the 3rd quarter valued at $714,000. Allspring Global Investments Holdings LLC raised its position in shares of Berry Global Group by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after buying an additional 37,242 shares during the last quarter. Hancock Whitney Corp purchased a new position in shares of Berry Global Group in the third quarter worth about $1,065,000. Mercer Global Advisors Inc. ADV boosted its position in Berry Global Group by 370.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock worth $6,760,000 after acquiring an additional 90,428 shares during the last quarter. Finally, Goldentree Asset Management LP purchased a new stake in Berry Global Group during the 3rd quarter valued at about $24,288,000. 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.