Berry Global Group (NYSE:BERY) Cut to "Neutral" at UBS Group

Berry Global Group (NYSE:BERY - Get Free Report) was downgraded by equities research analysts at UBS Group from a "buy" rating to a "neutral" rating in a report released on Friday, MarketBeat reports. They currently have a $75.00 price target on the industrial products company's stock, down from their previous price target of $82.00. UBS Group's price objective suggests a potential upside of 4.59% from the stock's current price.

BERY has been the topic of a number of other reports. Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price objective on the stock. Truist Financial reaffirmed a "hold" rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday. Royal Bank of Canada boosted their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a report on Thursday. Finally, StockNews.com upgraded Berry Global Group from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $72.00.

Berry Global Group Stock Up 1.1 %

BERY stock traded up $0.78 during trading on Friday, reaching $71.71. 2,462,939 shares of the stock were exchanged, compared to its average volume of 1,074,010. The firm's 50 day moving average is $68.09 and its 200 day moving average is $64.32. The firm has a market cap of $8.22 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $72.50.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the 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 in the company, valued at $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 SEC, which is available at this link. Insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BERY. Russell Investments Group Ltd. increased its stake in Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company's stock valued at $2,271,000 after acquiring an additional 9,483 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Berry Global Group during the 1st quarter valued at about $691,000. BOKF NA raised its holdings in shares of Berry Global Group by 26.3% during the 1st quarter. BOKF NA now owns 79,330 shares of the industrial products company's stock valued at $4,809,000 after buying an additional 16,497 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Berry Global Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company's stock worth $56,786,000 after buying an additional 37,242 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Berry Global Group by 370.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company's stock worth $6,760,000 after buying an additional 90,428 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.