Berry Global Group, Inc. (NYSE:BERY) Given Average Rating of “Hold” by Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $71.22.

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $67.05 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $71.63. The company has a 50 day simple moving average of $67.90 and a two-hundred day simple moving average of $64.13. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is presently 23.50%.

Insider Buying and Selling

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were 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 owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Large investors have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group during the second quarter worth $27,000. Quest Partners LLC grew its holdings in shares of 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 worth $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC boosted its position 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 acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group during the 2nd quarter valued at about $42,000. Finally, American Capital Advisory LLC acquired a new position in shares of Berry Global Group during the 2nd quarter valued at about $44,000. Hedge funds and other 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.