Berry Global Group (NYSE:BERY) Price Target Raised to $74.00

Berry Global Group (NYSE:BERY) had its target price upped by Truist Financial from $72.00 to $74.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other research firms have also commented on BERY. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. StockNews.com began coverage on Berry Global Group in a research note on Saturday, January 4th. They set a “buy” rating for the company. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Finally, Citigroup reiterated a “neutral” rating and issued a $76.00 price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $73.60.

Berry Global Group Trading Up 0.5 %

NYSE BERY opened at $66.25 on Monday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The company has a 50-day simple moving average of $67.84 and a 200-day simple moving average of $66.16. The firm has a market capitalization of $7.63 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.31 dividend. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s dividend payout ratio is currently 28.25%.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group in the 2nd quarter worth approximately $27,000. Quest Partners LLC lifted 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 purchasing an additional 548 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group in the second quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new position in Berry Global Group in the third quarter worth approximately $75,000. Finally, GAMMA Investing LLC increased its holdings in shares of Berry Global Group by 332.6% in the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after buying an additional 908 shares in the last quarter. 95.36% of the stock is currently 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.