Berry Global Group (NYSE:BERY) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY - Free Report) in a research note released on Thursday morning. The brokerage issued a hold rating on the industrial products company's stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial boosted 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. Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price objective for the company. Finally, UBS Group decreased their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $71.22.

Berry Global Group Stock Up 0.4 %

Shares of BERY traded up $0.27 during mid-day trading on Thursday, reaching $67.28. The company had a trading volume of 1,400,641 shares, compared to its average volume of 747,106. 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 firm has a 50-day moving average price of $68.00 and a 200 day moving average price of $63.60. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $71.63. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently disclosed 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 represents a $1.24 annualized dividend and a dividend yield of 1.84%. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. Berry Global Group's dividend payout ratio is 23.50%.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Berry Global Group by 16.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company's stock valued at $819,441,000 after purchasing an additional 1,934,137 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company's stock valued at $782,070,000 after purchasing an additional 1,200,021 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company's stock valued at $204,365,000 after purchasing an additional 807,211 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company's stock valued at $46,968,000 after acquiring an additional 588,114 shares during the last quarter. Finally, Eminence Capital LP lifted its holdings in shares of Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company's stock valued at $159,751,000 after acquiring an additional 492,793 shares during the last quarter. 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.