Berry Global Group (NYSE:BERY) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other analysts also recently weighed in on BERY. Royal Bank of Canada boosted 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, November 21st. Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Truist Financial reiterated a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $71.57 on Monday. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $73.31. The firm has a market capitalization of $8.20 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. The company’s fifty day moving average price is $68.45 and its 200 day moving average price is $64.65.

Berry Global Group Increases Dividend

The firm 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 is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.73%. Berry Global Group’s payout ratio is presently 25.06%.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’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 owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently made changes to their positions in BERY. Virtu Financial LLC acquired a new position in Berry Global Group during the first quarter worth $691,000. Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after buying an additional 37,242 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in Berry Global Group in the 3rd quarter valued at about $714,000. Mercer Global Advisors Inc. ADV raised its position in Berry Global Group by 370.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock worth $6,760,000 after acquiring an additional 90,428 shares during the last quarter. Finally, Hancock Whitney Corp acquired a new position in Berry Global Group during the third quarter worth about $1,065,000. Hedge funds and other 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.