Berry Global Group, Inc. (NYSE:BERY) Given Consensus Rating of “Hold” by Brokerages

Berry Global Group, Inc. (NYSE:BERY) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $71.22.

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. StockNews.com started coverage on Berry Global Group in a report on Thursday, November 7th. They issued a “hold” rating for the company. Finally, UBS Group decreased their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th.

Insider Activity 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 stock was 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 in the company, valued at $2,119,889.64. This represents a 0.00 % 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 currently owned by corporate insiders.

Institutional Trading of Berry Global Group

A number of institutional investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. boosted its position in shares of Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. Vanguard Group Inc. lifted its position in Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after acquiring an additional 1,200,021 shares during the period. FMR LLC lifted its position in Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP lifted its position in Berry Global Group by 30.3% during 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 acquiring an additional 807,211 shares during the period. Finally, Eminence Capital LP lifted 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 acquiring an additional 492,793 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $67.00 on Thursday. The firm has a market cap of $7.68 billion, a PE ratio of 14.32, a PEG ratio of 1.12 and a beta of 1.14. The stock has a 50 day moving average of $67.93 and a 200 day moving average of $63.95. The company has a current ratio of 1.82, a quick ratio of 1.08 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 $71.63.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.85%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 23.50%.

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.