Royal Bank of Canada Increases Berry Global Group (NYSE:BERY) Price Target to $73.00

Berry Global Group (NYSE:BERY) had its target price upped by investment analysts at Royal Bank of Canada from $69.00 to $73.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 4.27% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday. Finally, StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and a consensus price target of $72.22.

Berry Global Group Stock Up 1.5 %

BERY traded up $1.01 on Thursday, hitting $70.01. 498,149 shares of the company were exchanged, compared to its average volume of 1,055,163. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $72.50. The company has a market cap of $8.02 billion, a PE ratio of 15.93, a PEG ratio of 1.09 and a beta of 1.14. 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 stock’s fifty day moving average is $67.99 and its 200-day moving average is $64.27.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hohimer Wealth Management LLC acquired a new position in Berry Global Group during the third quarter worth $367,000. TD Private Client Wealth LLC raised its holdings in shares of Berry Global Group by 5,508.3% in the third quarter. TD Private Client Wealth LLC now owns 8,132 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 7,987 shares during the last quarter. Neo Ivy Capital Management boosted its holdings in Berry Global Group by 159.7% during the third quarter. Neo Ivy Capital Management now owns 35,322 shares of the industrial products company’s stock worth $2,402,000 after purchasing an additional 21,722 shares during the last quarter. Geode Capital Management LLC increased its stake in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after buying an additional 27,437 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of 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 worth $396,000 after buying an additional 173 shares in the last quarter. 95.36% of the stock is owned by 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.