Berry Global Group (NYSE:BERY) Reaches New 12-Month High – What’s Next?

Berry Global Group, Inc. (NYSE:BERY) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $72.50 and last traded at $69.76, with a volume of 943932 shares trading hands. The stock had previously closed at $67.05.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BERY. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Finally, Truist Financial reissued a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.00.

Berry Global Group Trading Up 4.3 %

The business’s 50-day moving average price is $67.99 and its two-hundred day moving average price is $64.27. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.10 and a beta of 1.14. 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. 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 payout ratio is 28.25%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group in the 2nd quarter valued at $27,000. Quest Partners LLC raised its position in Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC boosted its stake 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 valued at $36,000 after purchasing an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group during the second quarter valued at about $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the second quarter worth about $44,000. Institutional investors and hedge funds 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.