StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a report published on Monday. The brokerage issued a buy rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. UBS Group decreased their price objective on Berry Global Group from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Royal Bank of Canada boosted their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Barclays upped their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Stock Down 0.5 %

BERY stock opened at $68.09 on Monday. The stock’s 50 day simple moving average is $67.53 and its 200 day simple moving average is $66.71. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The company has a market cap of $7.88 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is currently 28.25%.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently made changes to their positions in BERY. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group in the second quarter worth $27,000. UMB Bank n.a. raised its position in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Berry Global Group in the third quarter valued at $75,000. GAMMA Investing LLC increased its stake in Berry Global Group by 332.6% in the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 908 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Berry Global Group in the third quarter valued at $152,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.