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 report released on Monday.

A number of other equities analysts also recently commented on the stock. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday. Citigroup reaffirmed a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $75.00 in a research report on Friday. Finally, Royal Bank of Canada raised their price target 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. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.73.

Berry Global Group Stock Down 0.2 %

Shares of BERY opened at $71.55 on Monday. The firm has a fifty day moving average price of $68.22 and a 200-day moving average price of $64.44. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $8.20 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.40 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.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio is presently 25.06%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EdgePoint Investment Group Inc. lifted its stake in shares of Berry Global Group by 16.7% during the first quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after buying an additional 1,934,137 shares during the period. FMR LLC raised its stake in Berry Global Group by 38.4% in the 3rd 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $204,365,000 after acquiring an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Berry Global Group by 280.1% during 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 purchasing an additional 588,114 shares during the last quarter. Finally, Eminence Capital LP grew its stake in Berry Global Group by 22.2% during 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. Institutional investors and hedge funds 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.