Berry Global Group’s (BERY) “Neutral” Rating Reaffirmed at Citigroup

Citigroup reiterated their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a $76.00 price target on the industrial products company’s stock.

Several other analysts have also issued reports on the stock. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Royal Bank of Canada boosted their price target on shares of 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. Truist Financial reaffirmed a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Trading Up 1.2 %

Shares of BERY opened at $71.57 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. The firm has a 50-day moving average price of $68.45 and a 200 day moving average price of $64.65. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The firm has a market capitalization of $8.20 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.42 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio is presently 25.06%.

Insider Activity at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the 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 of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction 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 corporate insiders.

Hedge Funds Weigh In On Berry Global Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BERY. Franklin Resources Inc. grew its position in Berry Global Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock valued at $21,711,000 after buying an additional 3,744 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Berry Global Group by 71.0% in the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock valued at $2,129,000 after acquiring an additional 13,004 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Berry Global Group during the third quarter worth about $463,000. Sanctuary Advisors LLC purchased a new position in Berry Global Group during the third quarter worth about $389,000. Finally, Hohimer Wealth Management LLC purchased a new position in Berry Global Group during the third quarter worth about $367,000. Hedge funds and other institutional investors 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.