Berry Global Group's (BERY) Overweight Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of Berry Global Group (NYSE:BERY - Free Report) in a report issued on Monday morning, Marketbeat Ratings reports. They currently have a $76.00 price target on the industrial products company's stock, up from their prior price target of $70.00.

A number of other research analysts have also recently commented on the company. StockNews.com upgraded Berry Global Group from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. UBS Group downgraded shares of Berry Global Group from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $82.00 to $75.00 in a research note on Friday. Truist Financial reissued a "hold" rating and set a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, Citigroup reissued a "neutral" rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of "Hold" and a consensus price target of $72.73.

Berry Global Group Stock Performance

NYSE:BERY remained flat at $71.71 during trading on Monday. The company's stock had a trading volume of 2,470,196 shares, compared to its average volume of 1,079,010. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.26 and a current ratio of 0.41. The company has a 50 day simple moving average of $68.22 and a 200 day simple moving average of $64.44. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's dividend payout ratio (DPR) is 25.06%.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BERY. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC increased its position in Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company's stock worth $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC increased its position in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company's stock worth $36,000 after buying an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group during the second quarter worth about $42,000. Finally, American Capital Advisory LLC purchased a new position in Berry Global Group during the 2nd quarter valued at approximately $44,000. Institutional investors own 95.36% of the company's stock.

About Berry Global Group

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.