Berry Global Group’s (BERY) Neutral Rating Reiterated at Citigroup

Citigroup restated their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research note released on Monday, MarketBeat reports. The brokerage currently has a $76.00 target price on the industrial products company’s stock.

Several other equities analysts have also commented on BERY. Truist Financial reissued 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. Royal Bank of Canada boosted their target price on shares of 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. Morgan Stanley began 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 target price for the company. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Finally, StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Trading Up 1.2 %

Shares of BERY opened at $71.57 on Monday. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $73.31. The stock’s 50-day moving average is $68.37 and its two-hundred day moving average is $64.60. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. The stock has a market cap of $8.20 billion, a PE ratio of 16.30, a P/E/G ratio of 1.42 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. 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. Berry Global Group’s dividend payout ratio (DPR) is currently 25.06%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently modified their holdings of BERY. Virtu Financial LLC bought a new position in Berry Global Group in the 1st quarter worth approximately $691,000. Allspring Global Investments Holdings LLC boosted its position in 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 period. Integrated Investment Consultants LLC bought a new position in shares of Berry Global Group in the third quarter worth $714,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of 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 valued at $6,760,000 after purchasing an additional 90,428 shares during the period. Finally, Hancock Whitney Corp bought a new stake in shares of Berry Global Group during the third quarter valued at about $1,065,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.