Berry Global Group (NYSE:BERY) Earns “Hold” Rating from Truist Financial

Truist Financial reiterated their hold rating on shares of Berry Global Group (NYSE:BERY) in a research report report published on Wednesday,Benzinga reports. They currently have a $72.00 price objective on the industrial products company’s stock, down from their previous price objective of $74.00.

A number of other brokerages have also recently weighed in on BERY. Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and a consensus target price of $72.00.

Berry Global Group Trading Up 1.1 %

BERY stock opened at $71.71 on Wednesday. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $72.50. The firm has a market cap of $8.22 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.39 and a beta of 1.14. The business’s 50 day moving average is $68.22 and its 200-day moving average is $64.40. The company has a current ratio of 0.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change 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 (DPR) is 25.06%.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’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 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 trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BERY. EdgePoint Investment Group Inc. raised its position 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 acquiring an additional 1,934,137 shares during the last quarter. Vanguard Group Inc. raised its holdings in Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after purchasing an additional 1,200,021 shares during the last quarter. FMR LLC raised its holdings in Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing 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 valued at $204,365,000 after purchasing an additional 807,211 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Berry Global Group by 280.1% in 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. 95.36% of the stock is currently owned by institutional investors.

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.