Berry Global Group, Inc. (NYSE:BERY) Given Average Recommendation of "Hold" by Analysts

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $73.73.

Several research firms have recently commented on BERY. Citigroup reissued a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group cut shares of Berry Global Group from a "buy" rating to a "neutral" rating and decreased their price target for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 price objective on the stock. Truist Financial reiterated a "hold" rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th.

Berry Global Group Trading Up 0.0 %

BERY stock traded up $0.02 during midday trading on Monday, hitting $69.67. 1,221,287 shares of the company's stock were exchanged, compared to its average volume of 1,103,851. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The business has a 50-day simple moving average of $68.88 and a two-hundred day simple moving average of $65.29. The stock has a market capitalization of $8.03 billion, a PE ratio of 15.87, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.31 per share. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group's dividend payout ratio (DPR) is 28.25%.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.00% of the company's stock.

Institutional Trading of Berry Global Group

A number of hedge funds have recently added to or reduced their stakes in BERY. Altshuler Shaham Ltd acquired a new position in Berry Global Group in the second quarter valued at $27,000. Quest Partners LLC lifted its stake 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 purchasing an additional 548 shares in the last quarter. LRI Investments LLC grew its holdings 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 purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group during the 2nd quarter worth 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 institutional investors and hedge funds.

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.