Berry Global Group’s (BERY) “Neutral” Rating Reaffirmed at Citigroup

Citigroup restated their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Monday, MarketBeat reports. They currently have a $76.00 target price on the industrial products company’s stock.

Other research analysts have also issued reports about the company. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of 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. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $71.57 on Monday. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $73.31. 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. The stock has a fifty day moving average price of $68.37 and a two-hundred day moving average price of $64.60. 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 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 issued 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 1.73%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is presently 25.06%.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now owns 30,228 shares in the company, 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 available through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

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

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.