Berry Global Group’s (BERY) “Overweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Berry Global Group (NYSE:BERY) in a report released on Monday morning, MarketBeat reports. The brokerage currently has a $76.00 target price on the industrial products company’s stock, up from their previous target price of $70.00.

Several other analysts have also recently weighed in on the company. UBS Group cut 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 report on Friday, November 22nd. Royal Bank of Canada boosted their price target 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. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday. Finally, Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.73.

Berry Global Group Trading Up 1.2 %

BERY stock opened at $71.57 on Monday. The company has a quick ratio of 0.26, 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 $73.31. The company has a market cap of $8.20 billion, a P/E ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.14. The business has a fifty day moving average of $68.37 and a 200-day moving average of $64.60.

Berry Global Group Increases Dividend

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

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was 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 owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.