Berry Global Group, Inc. (NYSE:BERY) Receives $71.22 Average Target Price from Analysts

Shares of Berry Global Group, Inc. (NYSE:BERY - Get Free Report) have earned an average rating of "Hold" from the ten analysts that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $71.22.

Several analysts have recently commented on the company. Truist Financial increased their price objective on Berry Global Group from $68.00 to $74.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. UBS Group dropped their price target on shares of Berry Global Group from $89.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. StockNews.com started coverage on shares of Berry Global Group in a research report on Thursday, November 7th. They issued a "hold" rating for the company. Finally, Morgan Stanley assumed coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 target price on the stock.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company's stock in a transaction 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. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

A number of large investors have recently modified their holdings of BERY. Altshuler Shaham Ltd purchased a new position in Berry Global Group in the second quarter valued at $27,000. Quest Partners LLC increased its holdings in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC raised its position in shares of 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 in the second quarter valued at approximately $42,000. Finally, American Capital Advisory LLC purchased a new position in Berry Global Group in the second quarter valued at approximately $44,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 1.0 %

Shares of NYSE BERY traded down $0.67 during midday trading on Thursday, reaching $66.33. The stock had a trading volume of 652,997 shares, compared to its average volume of 985,741. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $71.63. The company's 50 day moving average price is $67.93 and its 200 day moving average price is $63.95. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group's dividend payout ratio is 23.50%.

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.