Berry Global Group (NYSE:BERY) Upgraded at StockNews.com

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

Several other research firms have also recently issued reports on BERY. Truist Financial increased their price target on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley initiated coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.22.

Berry Global Group Trading Up 0.2 %

Berry Global Group stock opened at $70.58 on Wednesday. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $71.52. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.16 and a beta of 1.15. The firm has a 50-day moving average price of $67.92 and a two-hundred day moving average price of $63.19.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that Berry Global Group will post 7.6 earnings per share for the current year.

Berry Global Group Increases Dividend

The business also recently disclosed 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is 23.50%.

Insider Buying and Selling

In related 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 transaction, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BERY. Atria Investments Inc boosted its stake in Berry Global Group by 4.8% in the 3rd quarter. Atria Investments Inc now owns 42,512 shares of the industrial products company’s stock worth $2,890,000 after purchasing an additional 1,945 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Berry Global Group in the third quarter worth $376,000. Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group during the third quarter valued at $75,000. Foster & Motley Inc. raised its position in Berry Global Group by 162.4% during the third quarter. Foster & Motley Inc. now owns 19,170 shares of the industrial products company’s stock valued at $1,303,000 after buying an additional 11,865 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in Berry Global Group by 14.7% in the 3rd quarter. QRG Capital Management Inc. now owns 8,979 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 1,151 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.