Truist Financial Forecasts Strong Price Appreciation for Berry Global Group (NYSE:BERY) Stock

Berry Global Group (NYSE:BERY) had its target price hoisted by Truist Financial from $72.00 to $74.00 in a research report released on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other analysts have also issued reports on BERY. Citigroup restated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. StockNews.com began coverage on Berry Global Group in a research note on Saturday, January 4th. They set a “buy” rating on the stock. Barclays upped their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and cut 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.60.

Berry Global Group Stock Performance

Berry Global Group stock opened at $66.25 on Monday. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The firm’s 50 day simple moving average is $67.84 and its 200-day simple moving average is $66.16. 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 company has a market cap of $7.63 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

Berry Global Group Increases Dividend

The firm also recently declared 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. The ex-dividend date was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 28.25%.

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 directly owns 30,228 shares in the company, valued at approximately $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 this link. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC raised its holdings in Berry Global Group by 54,800.0% in 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 during the period. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group during the 2nd quarter worth $42,000. Capital Performance Advisors LLP bought a new stake in Berry Global Group during the third quarter valued at about $75,000. Finally, GAMMA Investing LLC grew its position in shares of Berry Global Group by 332.6% in 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 during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.