Berry Global Group (NYSE:BERY) Coverage Initiated by Analysts at StockNews.com

by · The Markets Daily

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY – Free Report) in a report published on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Several other brokerages also recently commented on BERY. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial increased 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. Finally, UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.22.

Get Our Latest Stock Report on Berry Global Group

Berry Global Group Stock Down 0.0 %

Shares of Berry Global Group stock traded down $0.02 during midday trading on Thursday, hitting $67.26. The company had a trading volume of 152,951 shares, compared to its average volume of 989,299. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $7.71 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.17 and a beta of 1.14. The company has a 50 day moving average of $68.00 and a 200 day moving average of $63.60. 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 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 is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s dividend payout ratio is presently 26.50%.

Insider Activity at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction 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 sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in Berry Global Group by 15.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 9,711 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 1,302 shares during the last quarter. Norden Group LLC acquired a new position in Berry Global Group during the 1st quarter valued at about $259,000. Quantbot Technologies LP increased its stake in Berry Global Group by 52,412.5% during the 1st quarter. Quantbot Technologies LP now owns 42,010 shares of the industrial products company’s stock valued at $2,541,000 after buying an additional 41,930 shares during the period. Illinois Municipal Retirement Fund increased its stake in Berry Global Group by 23.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 37,192 shares of the industrial products company’s stock valued at $2,249,000 after buying an additional 7,168 shares during the period. Finally, Tectonic Advisors LLC increased its stake in Berry Global Group by 6.6% during the 1st quarter. Tectonic Advisors LLC now owns 149,162 shares of the industrial products company’s stock valued at $9,021,000 after buying an additional 9,293 shares during the period. 95.36% of the stock is currently owned by institutional investors.

About Berry Global Group

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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.

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