Berry Global Group, Inc. (NYSE:BERY) Given Consensus Rating of "Hold" by Brokerages

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) has received a consensus recommendation of "Hold" from the eleven brokerages that are covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $73.40.

A number of equities research analysts recently commented on BERY shares. Truist Financial reaffirmed a "hold" rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. UBS Group cut shares of Berry Global Group from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Friday, December 27th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Citigroup reaffirmed a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th.

Insider Buying and Selling

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company's stock worth $879,391,000 after buying an additional 1,393,955 shares in the last quarter. FMR LLC raised its position in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock worth $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company's stock valued at $204,365,000 after acquiring an additional 807,211 shares during the period. Eminence Capital LP lifted its holdings in Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company's stock valued at $159,751,000 after acquiring an additional 492,793 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Berry Global Group during the 2nd quarter worth $25,688,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Stock Down 0.4 %

NYSE BERY traded down $0.24 during trading on Friday, hitting $64.35. The company's stock had a trading volume of 1,140,209 shares, compared to its average volume of 1,168,155. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The company has a market cap of $7.41 billion, a PE ratio of 14.66, a P/E/G ratio of 1.38 and a beta of 1.16. 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 business's 50 day simple moving average is $68.01 and its 200-day simple moving average is $66.02.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.31 per share. 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. This represents a $1.24 dividend on an annualized basis and a yield of 1.93%. Berry Global Group's dividend payout ratio is 28.25%.

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.