Berry Global Group (NYSE:BERY) Given New $73.00 Price Target at Royal Bank of Canada

Berry Global Group (NYSE:BERY) had its price target upped by Royal Bank of Canada from $69.00 to $73.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the industrial products company’s stock.

BERY has been the topic of a number of other reports. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Truist Financial reaffirmed a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and three 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 target price of $72.00.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $71.71 on Thursday. The company has a market capitalization of $8.22 billion, a PE ratio of 16.33, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a quick ratio of 1.08, a current ratio of 0.41 and a debt-to-equity ratio of 2.57. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $72.50. The firm has a fifty day simple moving average of $68.22 and a 200 day simple moving average of $64.40.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.73%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is presently 25.06%.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group 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 completion of the transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Hohimer Wealth Management LLC bought a new position in Berry Global Group in the 3rd quarter valued at about $367,000. TD Private Client Wealth LLC raised its stake in shares of Berry Global Group by 5,508.3% in the third quarter. TD Private Client Wealth LLC now owns 8,132 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 7,987 shares during the last quarter. Neo Ivy Capital Management lifted its holdings in shares of Berry Global Group by 159.7% in the third quarter. Neo Ivy Capital Management now owns 35,322 shares of the industrial products company’s stock valued at $2,402,000 after purchasing an additional 21,722 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after buying an additional 27,437 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after buying an additional 173 shares in the last quarter. 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.