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

Analysts at StockNews.com began coverage on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the industrial products company’s stock.

A number of other equities analysts have also recently issued reports on the company. Truist Financial reiterated a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Royal Bank of Canada upped 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. Morgan Stanley started coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Barclays increased 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. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Price Performance

Berry Global Group stock opened at $70.99 on Tuesday. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The business has a 50-day simple moving average of $68.81 and a 200 day simple moving average of $65.05. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.42 and a beta of 1.14.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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. EdgePoint Investment Group Inc. increased its holdings in shares of Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. FMR LLC increased its holdings in shares of Berry Global Group by 38.4% in 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Berry Global Group by 30.3% in 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 purchasing an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 worth $46,968,000 after purchasing an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP grew its holdings in shares of Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after acquiring an additional 492,793 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.