Berry Global Group (NYSE:BERY) Reaches New 12-Month High – What’s Next?

Shares of Berry Global Group, Inc. (NYSE:BERY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.50 and last traded at $69.76, with a volume of 943932 shares trading hands. The stock had previously closed at $67.05.

Analysts Set New Price Targets

Several analysts recently weighed in on BERY shares. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Truist Financial reiterated a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday. Finally, Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $71.00.

Berry Global Group Price Performance

The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The business has a 50 day moving average price of $67.99 and a 200-day moving average price of $64.27. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.10 and a beta of 1.14.

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 paid a $0.31 dividend. The ex-dividend date is Monday, December 2nd. 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 1.80%. Berry Global Group’s payout ratio is 28.25%.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on 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 directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several large investors have recently made changes to their positions in BERY. EdgePoint Investment Group Inc. increased its stake in Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after purchasing an additional 336,186 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after acquiring an additional 1,200,021 shares in the last quarter. State Street Corp raised its holdings in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares during the last quarter. FMR LLC lifted its position in Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after purchasing an additional 807,211 shares during the last quarter. 95.36% of the stock is currently 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.