Berry Global Group (NYSE:BERY) Downgraded by UBS Group to Neutral

UBS Group lowered shares of Berry Global Group (NYSE:BERY) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. The firm currently has $75.00 target price on the industrial products company’s stock, down from their previous target price of $82.00.

A number of other brokerages also recently issued reports on BERY. Truist Financial restated a “hold” rating and issued a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada upped their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, 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 target on the stock. Eight 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.com, the stock currently has an average rating of “Hold” and an average target price of $72.00.

Berry Global Group Stock Up 1.1 %

Shares of NYSE:BERY opened at $71.69 on Friday. The company has a market capitalization of $8.22 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. 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 business has a fifty day moving average price of $68.09 and a two-hundred day moving average price of $64.32. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $72.50.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.31 per share. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. Berry Global Group’s dividend payout ratio is 25.06%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the 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 sale, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Berry Global Group

Several institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp raised its holdings in shares of Berry Global Group by 3.1% in the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 173 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Berry Global Group by 1.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 176 shares in the last quarter. Creative Planning raised its holdings in shares of Berry Global Group by 3.0% in the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 198 shares in the last quarter. Guardian Wealth Management Inc. raised its holdings in shares of Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock valued at $1,743,000 after acquiring an additional 287 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Berry Global Group by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 311 shares during the last quarter. Hedge funds and other institutional investors 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.