Berry Global Group, Inc. (NYSE:BERY) Receives Consensus Rating of “Hold” from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY) have received a consensus rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $73.60.

Several research firms have weighed in on BERY. Barclays lifted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. StockNews.com started coverage on Berry Global Group in a research note on Saturday, January 4th. They issued a “buy” rating for the company. Truist Financial lifted their target price on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada increased their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the 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 transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several large investors have recently modified their holdings of BERY. EdgePoint Investment Group Inc. lifted its position 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 worth $1,038,674,000 after acquiring an additional 336,186 shares during the last quarter. State Street Corp lifted its position in shares of Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after purchasing an additional 360,857 shares during the last quarter. FMR LLC boosted its stake in Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP grew its holdings in Berry Global Group by 30.3% in 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 buying an additional 807,211 shares during the last quarter. Finally, Eminence Capital LP increased its position in Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares during the period. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

Shares of BERY opened at $66.25 on Friday. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The company has a 50-day moving average of $67.75 and a two-hundred day moving average of $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. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.38 and a beta of 1.16.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is presently 28.25%.

Berry Global Group Company Profile

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.