Berry Global Group’s (BERY) “Hold” Rating Reiterated at Truist Financial

Truist Financial restated their hold rating on shares of Berry Global Group (NYSE:BERY) in a research report sent to investors on Wednesday,Benzinga reports. Truist Financial currently has a $72.00 target price on the industrial products company’s stock, down from their prior target price of $74.00.

A number of other brokerages have also commented on BERY. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research 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 price target for the company. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.00.

Berry Global Group Stock Up 4.3 %

Shares of Berry Global Group stock opened at $69.01 on Wednesday. The stock’s fifty day moving average is $67.99 and its 200-day moving average is $64.27. The firm has a market capitalization of $7.91 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. 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 12-month low of $54.06 and a 12-month high of $72.50.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 28.25%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in Berry Global Group during the 2nd quarter valued at approximately $27,000. Quest Partners LLC lifted its holdings in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after buying an additional 548 shares during the last quarter. LRI Investments LLC boosted its position in shares of Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group in the second quarter worth $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group during the second quarter worth $44,000. 95.36% of the stock is 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.