Berry Global Group (NYSE:BERY) Reaches New 12-Month High - What's Next?

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.50 and last traded at $69.76, with a volume of 943932 shares. The stock had previously closed at $67.05.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BERY shares. Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 price target for the company. StockNews.com raised Berry Global Group from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Truist Financial upped their price objective on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $71.22.

Berry Global Group Stock Performance

The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The business's 50-day moving average is $67.92 and its 200-day moving average is $64.24. The company has a market capitalization of $7.56 billion, a PE ratio of 14.10, a PEG ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. This is a boost from Berry Global Group's previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group's dividend payout ratio is currently 23.50%.

Insiders Place Their Bets

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BERY. M&T Bank Corp raised its stake in Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company's stock valued at $396,000 after buying an additional 173 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company's stock valued at $555,000 after acquiring an additional 176 shares during the period. 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 acquiring an additional 198 shares during the period. Guardian Wealth Management Inc. boosted its position in Berry Global Group by 1.0% in the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company's stock worth $1,743,000 after purchasing an additional 287 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Berry Global Group by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company's stock valued at $253,000 after purchasing an additional 311 shares during the period. Institutional investors own 95.36% of the company's stock.

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.