StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY - Free Report) in a research note released on Sunday. The firm issued a buy rating on the industrial products company's stock.
BERY has been the subject of a number of other research reports. Barclays boosted their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Citigroup reaffirmed a "neutral" rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial lifted their price objective on Berry Global Group from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 21st. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $73.30.
Check Out Our Latest Report on Berry Global Group
Berry Global Group Stock Down 1.3 %
BERY traded down $0.84 during trading on Friday, reaching $65.41. 886,838 shares of the stock traded hands, compared to its average volume of 1,160,423. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. 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 debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The stock's 50-day simple moving average is $67.56 and its two-hundred day simple moving average is $66.23.
Berry Global Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.90%. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group's payout ratio is currently 28.25%.
Insider Activity at Berry Global Group
In other news, Director Evan Bayh sold 14,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the sale, 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 SEC, which is accessible through this link. Corporate insiders own 4.00% of the company's stock.
Institutional Investors Weigh In On Berry Global Group
Several large investors have recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group in the 2nd quarter worth approximately $27,000. Quest Partners LLC boosted 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 worth $32,000 after acquiring an additional 548 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group in the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new position in shares of Berry Global Group in the 3rd quarter worth approximately $75,000. Finally, GAMMA Investing LLC lifted its holdings in Berry Global Group by 332.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company's stock worth $80,000 after buying an additional 908 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.
About Berry Global Group
(
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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.
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