Berry Global Group (NYSE:BERY) Rating Increased to Buy at StockNews.com

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

A number of other equities analysts also recently commented on BERY. Morgan Stanley assumed 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 price objective for the company. Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Up 0.7 %

Shares of Berry Global Group stock traded up $0.47 on Friday, hitting $66.80. The company had a trading volume of 845,608 shares, compared to its average volume of 985,109. The firm has a market capitalization of $7.66 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.10 and a beta of 1.14. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $71.63. The stock has a 50-day moving average of $67.90 and a 200-day moving average of $64.03. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. 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 (DPR) is 26.50%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the company’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 transaction of $981,820.00. Following the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in shares of Berry Global Group by 8.3% in the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after buying an additional 12,385 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 9,483 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Berry Global Group by 11.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after purchasing an additional 13,398 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Berry Global Group by 39.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company’s stock worth $1,162,000 after purchasing an additional 5,466 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after buying an additional 1,200,021 shares during the period. 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.