Berry Global Group (NYSE:BERY) Price Target Raised to $75.00 at Barclays

Berry Global Group (NYSE:BERY) had its target price boosted by Barclays from $64.00 to $75.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on the stock. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. 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 report on Thursday, November 21st. Finally, Citigroup reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.73.

Berry Global Group Price Performance

NYSE:BERY opened at $71.57 on Wednesday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.26 and a current ratio of 0.41. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The firm’s 50-day simple moving average is $68.37 and its 200 day simple moving average is $64.60.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, December 2nd. 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 1.73%. Berry Global Group’s dividend payout ratio is currently 25.06%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction 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 of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BERY. EdgePoint Investment Group Inc. grew its stake in shares of Berry Global Group by 2.2% during the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after acquiring an additional 336,186 shares in the last quarter. State Street Corp raised its holdings in Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after purchasing an additional 360,857 shares in the last quarter. FMR LLC grew its position in Berry Global Group by 38.4% in the third 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 position in Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares during the last quarter. Finally, Eminence Capital LP grew its position in Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.