Berry Global Group (NYSE:BERY) Given Hold Rating at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Berry Global Group (NYSE:BERY) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $72.00 target price on the industrial products company’s stock, down from their prior target price of $74.00.

Several other equities research analysts have also issued reports on the company. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.00.

Berry Global Group Stock Performance

Berry Global Group stock opened at $71.69 on Wednesday. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $72.50. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $8.22 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. The firm’s 50 day simple moving average is $68.09 and its 200 day simple moving average is $64.32.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. 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 dividend yield of 1.73%. Berry Global Group’s dividend payout ratio (DPR) is 25.06%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was 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. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 9,483 shares during the last quarter. Virtu Financial LLC bought a new stake in Berry Global Group in the 1st quarter worth $691,000. BOKF NA increased its position in shares of Berry Global Group by 26.3% in the first quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock valued at $4,809,000 after acquiring an additional 16,497 shares during the period. Vanguard Group Inc. raised its stake in shares of Berry Global Group by 10.2% during the first 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 last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Berry Global Group by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after purchasing an additional 37,242 shares during the period. 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.