Berry Global Group (NYSE:BERY) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research report sent to investors on Friday.

Several other brokerages also recently weighed in on BERY. 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. Truist Financial upped their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.22.

Berry Global Group Price Performance

BERY opened at $67.05 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $71.63. The company has a 50 day moving average of $67.90 and a two-hundred day moving average of $64.13. The company has a market cap of $7.68 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is 23.50%.

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 shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. boosted its position in shares of Berry Global Group by 8.3% during the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after purchasing an additional 12,385 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock valued at $7,767,000 after purchasing an additional 13,398 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 9,483 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Berry Global Group during the 1st quarter valued at about $691,000. Finally, BOKF NA boosted its position in shares of Berry Global Group by 26.3% during the 1st quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock valued at $4,809,000 after purchasing an additional 16,497 shares in the last quarter. Institutional investors 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.