Berry Global Group (NYSE:BERY) Upgraded at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research report report published on Monday.

Other research analysts also recently issued research reports about the stock. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday. Citigroup reaffirmed a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday. Truist Financial reissued a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, 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 objective on the stock. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and an average target price of $73.73.

Berry Global Group Stock Up 1.2 %

Shares of NYSE:BERY opened at $71.57 on Monday. 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 business’s 50 day simple moving average is $68.37 and its two-hundred day simple moving average is $64.60. The firm has a market cap of $8.20 billion, a P/E ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change 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 presently 25.06%.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the business’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 sale, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC boosted its stake in 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 valued at $32,000 after buying an additional 548 shares during the period. LRI Investments LLC grew its position in Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after buying an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group in the 2nd quarter valued at about $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the 2nd quarter valued at about $44,000. 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.