Berry Global Group (NYSE:BERY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a report issued on Monday morning.

A number of other brokerages have also recently issued reports on BERY. Royal Bank of Canada increased their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. 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 report on Wednesday, November 20th. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $75.00 in a research note on Friday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday. Finally, Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and a consensus target price of $72.73.

Berry Global Group Trading Down 0.2 %

Shares of NYSE:BERY opened at $71.55 on Monday. The stock has a 50 day moving average of $68.22 and a 200 day moving average of $64.44. The company has a market cap of $8.20 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

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

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new stake in Berry Global Group during the 2nd quarter valued at $27,000. Quest Partners LLC increased its position in Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC raised its stake in shares of Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Berry Global Group in the 2nd quarter worth about $42,000. Finally, American Capital Advisory LLC purchased a new position in shares of Berry Global Group during the 2nd quarter worth about $44,000. 95.36% of the stock is 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.