Berry Global Group, Inc. (NYSE:BERY) Given Average Recommendation of “Hold” by Brokerages

Berry Global Group, Inc. (NYSE:BERY) has been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $73.40.

Several analysts recently commented on BERY shares. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Barclays boosted their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Royal Bank of Canada lifted 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. Finally, Truist Financial restated a “hold” rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new position in Berry Global Group during the 2nd quarter valued at approximately $27,000. Quest Partners LLC lifted 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 purchasing an additional 548 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group during the second quarter valued at $42,000. Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group during the 3rd quarter valued at about $75,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Berry Global Group by 332.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after buying an additional 908 shares during the period. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Down 0.1 %

BERY stock opened at $64.59 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The business has a fifty day moving average price of $68.08 and a 200-day moving average price of $65.99. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The stock has a market capitalization of $7.44 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.38 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.92%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is 28.25%.

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.