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

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned a consensus rating of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $71.00.

Several equities analysts recently weighed in on BERY shares. Morgan Stanley started coverage on 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. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Truist Financial restated a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $69.01 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $72.50. The business has a 50-day moving average price of $67.99 and a 200 day moving average price of $64.27. The firm has a market cap of $7.91 billion, a PE ratio of 15.72, a P/E/G ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.80%. 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. Berry Global Group’s payout ratio is presently 28.25%.

Insider Buying and Selling

In other news, Director Evan Bayh sold 14,000 shares of the business’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 directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BERY. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its position in shares of Berry Global Group by 54,800.0% during 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 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group during the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Berry Global Group during the 2nd quarter valued at approximately $44,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.