Berry Global Group (NYSE:BERY) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Tuesday morning. The firm issued a buy rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada upped their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. 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 on the stock. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and an average price target of $73.73.

Berry Global Group Price Performance

BERY stock opened at $69.77 on Tuesday. The stock has a market cap of $8.04 billion, a PE ratio of 15.89, a P/E/G ratio of 1.42 and a beta of 1.14. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $73.31. The company has a 50-day moving average price of $68.83 and a 200 day moving average price of $65.08. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group 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 of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 institutional investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its position in shares of Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. FMR LLC boosted its holdings in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after acquiring an additional 807,211 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Berry Global Group by 280.1% during the second 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 in the last quarter. Finally, Eminence Capital LP raised its position 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 purchasing an additional 492,793 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.