StockNews.com Initiates Coverage on Berry Global Group (NYSE:BERY)

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a report issued on Saturday. The brokerage set a “buy” rating on the industrial products company’s stock.

Several other equities research analysts have also commented on BERY. Truist Financial reiterated a “hold” rating and issued a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Citigroup reaffirmed a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and a consensus price target of $73.40.

Berry Global Group Stock Performance

NYSE BERY opened at $64.35 on Friday. The company has a fifty day moving average price of $68.01 and a 200-day moving average price of $66.05. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.38 and a beta of 1.16. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $73.31.

Insider Buying and Selling

In related 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 sale, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp boosted its position in shares of Berry Global Group by 3.1% in the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 173 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Berry Global Group by 1.9% in the 2nd 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 during the period. Creative Planning grew its position in shares of Berry Global Group by 3.0% during the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 198 shares in the last quarter. Guardian Wealth Management Inc. increased its holdings in shares of Berry Global Group by 1.0% in the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 287 shares during the period. Finally, US Bancorp DE raised its position in shares of Berry Global Group by 9.1% in the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock worth $253,000 after buying an additional 311 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.