StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY – Free Report) in a research note released on Thursday morning. The brokerage issued a buy rating on the industrial products company’s stock.
BERY has been the subject of a number of other research reports. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Barclays increased their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Citigroup restated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial reissued a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.40.
Get Our Latest Research Report on BERY
Berry Global Group Stock Performance
Berry Global Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.31 per share. The ex-dividend date was Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.92%. Berry Global Group’s dividend payout ratio is currently 28.25%.
Insider Activity
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 directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of BERY. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group during the 2nd quarter valued at about $27,000. Quest Partners LLC raised its position 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 valued at $32,000 after buying an additional 548 shares during the period. LRI Investments LLC lifted 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 valued at $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group in the second quarter worth approximately $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group during the second quarter worth $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.
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