StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

Equities researchers at StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research report issued on Wednesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Morgan Stanley initiated 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. Truist Financial reaffirmed a “hold” rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Stock Down 0.1 %

BERY opened at $68.69 on Wednesday. The company’s 50-day moving average price is $69.02 and its two-hundred day moving average price is $65.41. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.39 and a beta of 1.14.

Insider Buying and Selling

In related 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 value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its holdings in Berry Global Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock worth $21,711,000 after buying an additional 3,744 shares during the period. Tidal Investments LLC boosted its holdings in Berry Global Group by 71.0% in the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock valued at $2,129,000 after acquiring an additional 13,004 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Berry Global Group during the 3rd quarter valued at $463,000. Sanctuary Advisors LLC bought a new position in Berry Global Group in the 3rd quarter worth $389,000. Finally, Hohimer Wealth Management LLC bought a new stake in shares of Berry Global Group during the 3rd quarter valued at about $367,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.