Berry Global Group’s (BERY) Overweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Berry Global Group (NYSE:BERY) in a research report released on Monday, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $76.00 price target on the industrial products company’s stock, up from their previous price target of $70.00.

Other equities research analysts have also issued reports about the stock. Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday. Finally, UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $82.00 to $75.00 in a research report on Friday. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $72.73.

Berry Global Group Stock Performance

NYSE:BERY opened at $71.55 on Monday. The stock has a market cap of $8.20 billion, a P/E ratio of 16.30, a PEG ratio of 1.40 and a beta of 1.14. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 2.57. The business’s 50-day moving average price is $68.22 and its two-hundred day moving average price is $64.44. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 a boost from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s payout ratio is 25.06%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were 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 in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Berry Global Group

Several large investors have recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group in the 2nd quarter valued at approximately $27,000. Quest Partners LLC raised its holdings 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 worth $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC raised its holdings in 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 worth $36,000 after purchasing an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group during the second quarter valued at $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the 2nd quarter valued at $44,000. 95.36% of the stock is owned by 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.