Berry Global Group (NYSE:BERY) Price Target Raised to $73.00

Berry Global Group (NYSE:BERY) had its price target lifted by Royal Bank of Canada from $69.00 to $73.00 in a report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the industrial products company’s stock.

BERY has been the topic of several other research reports. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Morgan Stanley assumed 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 for the company. Finally, Truist Financial reiterated a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.00.

Berry Global Group Trading Up 1.1 %

Shares of Berry Global Group stock opened at $71.71 on Thursday. The company has a quick ratio of 1.08, a current ratio of 0.41 and a debt-to-equity ratio of 2.57. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $72.50. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.39 and a beta of 1.14. The firm’s 50-day moving average price is $68.22 and its two-hundred day moving average price is $64.40.

Berry Global Group Increases Dividend

The company also recently declared 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s dividend payout ratio is presently 25.06%.

Insider Activity at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Berry Global Group

Several hedge funds have recently added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 2.2% during the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after acquiring an additional 336,186 shares during the last quarter. Vanguard Group Inc. increased its holdings in Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after purchasing an additional 1,200,021 shares during the period. State Street Corp raised its position in Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after purchasing an additional 360,857 shares during the last quarter. FMR LLC raised its position 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. Finally, Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 807,211 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.