Berry Global Group (NYSE:BERY) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a report published on Thursday morning. The firm issued a hold rating on the industrial products company’s stock.

A number of other research firms have also recently commented on BERY. Morgan Stanley initiated 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 for the company. UBS Group dropped their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Truist Financial lifted their price objective on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.22.

Berry Global Group Trading Up 0.0 %

Berry Global Group stock opened at $67.29 on Thursday. The stock has a market cap of $7.71 billion, a PE ratio of 14.38, a P/E/G ratio of 1.10 and a beta of 1.14. The stock has a 50-day moving average price of $67.97 and a 200 day moving average price of $63.72. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $71.63. 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 Increases Dividend

The firm also recently declared 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 boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.84%. Berry Global Group’s payout ratio is 23.50%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group 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 transaction, the director now directly owns 30,228 shares of the company’s stock, valued at $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 is available at this link. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC lifted 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 worth $32,000 after acquiring an additional 548 shares in the last quarter. LRI Investments LLC lifted 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 worth $36,000 after acquiring an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group during the 2nd quarter worth approximately $42,000. Finally, American Capital Advisory LLC acquired a new position in Berry Global Group during the 2nd quarter worth approximately $44,000. 95.36% of the stock is owned by institutional investors and hedge funds.

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.