Berry Global Group (NYSE:BERY) Given “Overweight” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their overweight rating on shares of Berry Global Group (NYSE:BERY) in a report published on Monday morning, Marketbeat reports. JPMorgan Chase & Co. currently has a $76.00 price objective on the industrial products company’s stock, up from their previous price objective of $70.00.

Several other research firms have also recently weighed in on BERY. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. Finally, StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Price Performance

Shares of BERY opened at $71.57 on Monday. The company’s 50-day moving average is $68.45 and its 200-day moving average is $64.65. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. The firm has a market capitalization of $8.20 billion, a PE ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.14. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued 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 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is currently 25.06%.

Insider Activity

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 value of $981,820.00. Following the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its holdings in Berry Global Group by 54,800.0% in 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 last quarter. LRI Investments LLC lifted its holdings in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Berry Global Group in the second quarter worth $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group in the second quarter valued at $44,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.