Berry Global Group, Inc. (NYSE:BERY) Receives Average Recommendation of “Hold” from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have been given an average rating of “Hold” by the eleven analysts that are currently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $73.60.

BERY has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday. Royal Bank of Canada upped their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Finally, Barclays raised their target price on shares of 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.

Insider Activity 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Berry Global Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BERY. EdgePoint Investment Group Inc. grew its position in Berry Global Group by 10.3% in the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. FMR LLC boosted its stake in shares of Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after buying an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after acquiring an additional 807,211 shares in the last quarter. Eminence Capital LP increased its position in shares of Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after acquiring an additional 492,793 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Berry Global Group during the second quarter worth about $25,688,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Trading Up 1.4 %

Shares of NYSE BERY opened at $66.03 on Friday. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The company has a 50-day moving average of $67.84 and a two-hundred day moving average of $66.16. The company has a market cap of $7.61 billion, a PE ratio of 15.04, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.31 per share. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

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.