Berry Global Group (NYSE:BERY) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report published on Friday. The brokerage issued a buy rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on the stock. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Morgan Stanley assumed 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays boosted 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 research report on Wednesday, November 27th. Finally, Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.40.

Berry Global Group Stock Down 0.1 %

Shares of BERY opened at $65.02 on Friday. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.38 and a beta of 1.14. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The business’s fifty day moving average price is $68.42 and its two-hundred day moving average price is $65.94.

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 issued a $0.31 dividend. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s payout ratio is currently 28.25%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. increased its position in Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after acquiring an additional 1,393,955 shares during the period. FMR LLC increased its holdings in shares of Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after buying an additional 807,211 shares in the last quarter. Eminence Capital LP boosted its stake in shares of Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after buying an additional 492,793 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Berry Global Group during the second quarter worth approximately $25,688,000. Institutional investors own 95.36% of the company’s stock.

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.