Berry Global Group (NYSE:BERY) Price Target Cut to $72.00 by Analysts at UBS Group

Berry Global Group (NYSE:BERY) had its price objective lowered by UBS Group from $75.00 to $72.00 in a research report report published on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial raised their price objective on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday, January 6th. StockNews.com assumed coverage on Berry Global Group in a research note on Saturday, January 4th. They set a “buy” rating for the company. Royal Bank of Canada raised their target price 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. Finally, Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.30.

Berry Global Group Trading Down 1.3 %

NYSE:BERY opened at $65.41 on Friday. The business’s 50-day moving average is $67.67 and its two-hundred day moving average is $66.16. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $73.31. The firm has a market capitalization of $7.54 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.31 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.90%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 28.25%.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred on 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. The trade was a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

Hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. raised its holdings in Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. FMR LLC raised its holdings in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Eminence Capital LP raised its holdings in Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Berry Global Group during the second quarter worth approximately $25,688,000. 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.