Berry Global Group (NYSE:BERY) Upgraded at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other analysts have also recently commented on BERY. Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Performance

Shares of BERY stock opened at $66.80 on Friday. The stock’s 50-day moving average price is $67.90 and its 200 day moving average price is $64.13. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $7.66 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $71.63.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued 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 dividend yield of 1.86%. Berry Global Group’s dividend payout ratio (DPR) is 23.50%.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the company’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 transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

A number of large investors have recently modified their holdings of BERY. Sei Investments Co. raised its holdings in Berry Global Group by 8.3% in the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after buying an additional 12,385 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 9,483 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after purchasing an additional 13,398 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Berry Global Group by 39.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company’s stock valued at $1,162,000 after purchasing an additional 5,466 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Berry Global Group by 10.2% in the first 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 period. 95.36% of the stock is currently owned by hedge funds and other 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.