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

StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a research report released on Wednesday. The brokerage issued a buy rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on BERY. Citigroup restated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Royal Bank of Canada raised 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 report on Thursday, November 21st. Truist Financial reissued a “hold” rating and issued a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Finally, UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.73.

Berry Global Group Trading Down 1.0 %

Shares of BERY opened at $67.94 on Wednesday. The stock’s 50-day moving average price is $69.05 and its 200 day moving average price is $65.47. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.38 and a beta of 1.14. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is 28.25%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the second quarter valued at approximately $27,000. Quest Partners LLC increased its stake in shares of 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 valued at $32,000 after buying an additional 548 shares during the period. LRI Investments LLC raised its position in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group during the second quarter valued at $42,000. Finally, American Capital Advisory LLC acquired a new position in shares of Berry Global Group during the second quarter valued at $44,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.