StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY - Free Report) in a research note issued to investors on Tuesday. The firm issued a buy rating on the industrial products company's stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada boosted their price target 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. UBS Group dropped their price objective on shares of Berry Global Group from $75.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Truist Financial lifted their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Barclays boosted their price target 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. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group has a consensus rating of "Hold" and an average target price of $73.30.

Berry Global Group Price Performance

Berry Global Group stock traded down $0.49 during mid-day trading on Tuesday, hitting $67.86. The company's stock had a trading volume of 542,837 shares, compared to its average volume of 1,127,740. The stock's fifty day moving average price is $67.64 and its two-hundred day moving average price is $67.02. The stock has a market capitalization of $7.85 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. Berry Global Group's dividend payout ratio is currently 28.25%.

Institutional Trading of Berry Global Group

Hedge funds have recently made changes to their positions in the company. Greenleaf Trust boosted its holdings in Berry Global Group by 3.5% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock valued at $285,000 after acquiring an additional 149 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Berry Global Group by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company's stock worth $229,000 after buying an additional 170 shares during the period. M&T Bank Corp raised its stake in Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company's stock worth $396,000 after buying an additional 173 shares during the last quarter. Creative Planning lifted its holdings in Berry Global Group by 3.0% in the third quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock valued at $464,000 after buying an additional 198 shares during the period. Finally, UMB Bank n.a. grew its holdings in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock worth $42,000 after acquiring an additional 306 shares during the period. 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.