Berry Global Group (NYSE:BERY) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Saturday. The brokerage issued a buy rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on BERY. Truist Financial reissued a “hold” rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Citigroup reissued a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Barclays boosted their price objective on shares of 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. Finally, UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.40.

Berry Global Group Trading Down 0.4 %

Shares of BERY opened at $64.35 on Friday. The firm has a fifty day simple moving average of $68.01 and a two-hundred day simple moving average of $66.05. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The stock has a market capitalization of $7.41 billion, a P/E ratio of 14.66, a PEG ratio of 1.38 and a beta of 1.16. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.93%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Insider Buying and Selling

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

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently bought and sold shares of BERY. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC boosted its stake in 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 valued at $32,000 after purchasing an additional 548 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Berry Global Group in the 2nd quarter worth $42,000. Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group in the third quarter worth $75,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Berry Global Group by 332.6% during the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 908 shares in the last quarter. 95.36% of the stock is currently 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.