Berry Global Group (NYSE:BERY) Stock Price Expected to Rise, Truist Financial Analyst Says

Berry Global Group (NYSE:BERY) had its target price hoisted by Truist Financial from $72.00 to $74.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on BERY. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $82.00 to $75.00 in a report on Friday, November 22nd. StockNews.com began coverage on shares of Berry Global Group in a report on Saturday. They set a “buy” rating for the company. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.60.

Berry Global Group Trading Up 1.3 %

BERY stock opened at $65.19 on Monday. The company’s 50-day simple moving average is $67.91 and its 200 day simple moving average is $66.12. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The company has a market capitalization of $7.51 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. Berry Global Group’s payout ratio is currently 28.25%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp lifted its holdings 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 purchasing an additional 173 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Berry Global Group by 1.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock worth $555,000 after acquiring an additional 176 shares during the period. Creative Planning boosted its holdings in shares of Berry Global Group by 3.0% in the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after buying an additional 198 shares during the last quarter. Guardian Wealth Management Inc. raised its holdings in shares of Berry Global Group by 1.0% in the 2nd 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 stake 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 valued at $253,000 after buying an additional 311 shares during the period. 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.