Berry Global Group (NYSE:BERY) Shares Gap Down – What’s Next?

Shares of Berry Global Group, Inc. (NYSE:BERY) gapped down prior to trading on Tuesday . The stock had previously closed at $70.95, but opened at $65.61. Berry Global Group shares last traded at $65.19, with a volume of 479,516 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BERY. StockNews.com started coverage on shares of Berry Global Group in a research report on Thursday. They set a “hold” rating on the stock. UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.22.

Berry Global Group Trading Up 0.4 %

The stock’s 50-day moving average price is $68.01 and its 200 day moving average price is $63.57. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The firm has a market capitalization of $7.71 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.84%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 23.50%.

Insider Buying and Selling

In other 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 value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BERY. Altshuler Shaham Ltd acquired a new stake in Berry Global Group in the second quarter valued at approximately $27,000. Quest Partners LLC increased its position in 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 in the last quarter. LRI Investments LLC increased its position in 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 buying an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group in the second quarter valued at about $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group in the second quarter worth about $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.