Berry Global Group (NYSE:BERY) Price Target Cut to $72.00 by Analysts at UBS Group

Berry Global Group (NYSE:BERY) had its target price trimmed by UBS Group from $75.00 to $72.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. StockNews.com initiated coverage on Berry Global Group in a research note on Saturday, January 4th. They set a “buy” rating for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial boosted their target price on Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Royal Bank of Canada boosted their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.30.

Berry Global Group Stock Down 1.3 %

BERY opened at $65.41 on Friday. The business has a 50 day moving average price of $67.67 and a two-hundred day moving average price of $66.16. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a market cap of $7.54 billion, a PE ratio of 14.90, a P/E/G ratio of 1.38 and a beta of 1.16. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31.

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 represents a $1.24 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is 28.25%.

Insider Buying and Selling 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. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. lifted its stake in shares of Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after purchasing an additional 336,186 shares during the period. State Street Corp raised its position in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after buying an additional 360,857 shares during the period. FMR LLC raised its position in shares of Berry Global Group by 38.4% in 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 period. Dimensional Fund Advisors LP raised its position 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 worth $204,365,000 after buying an additional 807,211 shares during the period. Finally, Eminence Capital LP raised its position in shares of Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares during the period. 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.