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

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a research note published on Thursday morning. The firm issued a buy rating on the industrial products company’s stock.

Several other analysts have also recently issued reports on the company. Barclays increased their price objective on 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. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial reissued 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. Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average target price of $73.40.

Berry Global Group Trading Up 0.0 %

NYSE BERY opened at $64.69 on Thursday. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The firm has a 50 day simple moving average of $68.98 and a 200-day simple moving average of $65.66. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.92%. The ex-dividend date was 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 currently 28.25%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

A number of large investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in Berry Global Group in the second quarter valued at $27,000. Quest Partners LLC grew its holdings in shares of 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 worth $32,000 after buying an additional 548 shares during the last quarter. LRI Investments LLC increased its position in Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group during the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC purchased a new stake in Berry Global Group during the 2nd quarter valued at approximately $44,000. 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.