Brokerages Set Berry Global Group, Inc. (NYSE:BERY) PT at $71.22

Shares of Berry Global Group, Inc. (NYSE:BERY) have been given a consensus rating of “Hold” by the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $71.22.

Several research firms have recently weighed in on BERY. Truist Financial upped their price objective on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Finally, StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday.

Berry Global Group Trading Up 0.7 %

NYSE:BERY opened at $66.80 on Thursday. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $71.63. The company’s 50 day moving average is $67.90 and its 200-day moving average is $64.08. 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 firm has a market cap of $7.66 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is currently 26.50%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group in the 2nd quarter valued at about $27,000. Quest Partners LLC boosted its holdings in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after buying an additional 548 shares during the period. LRI Investments LLC lifted its position in Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group during the second quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new position in shares of Berry Global Group during the second quarter worth approximately $44,000. 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.