Berry Global Group, Inc. (NYSE:BERY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Berry Global Group, Inc. (NYSE:BERY) have earned an average recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $73.73.

Several research firms recently commented on BERY. Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Barclays boosted their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. StockNews.com started coverage on shares of Berry Global Group in a research report on Tuesday, December 3rd. They issued a “buy” rating on the stock. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Finally, UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $82.00 to $75.00 in a report on Friday, November 22nd.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s 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 of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group in the 2nd quarter worth about $27,000. Quest Partners LLC increased its stake in 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 valued at $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC raised its holdings in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after buying an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group in the second quarter worth about $42,000. Finally, American Capital Advisory LLC bought a new position in shares of Berry Global Group in the second quarter worth approximately $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Price Performance

Berry Global Group stock opened at $69.65 on Monday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The firm has a market capitalization of $8.02 billion, a P/E ratio of 15.87, a PEG ratio of 1.42 and a beta of 1.14. The business has a fifty day moving average price of $68.84 and a 200-day moving average price of $65.21.

Berry Global Group Increases Dividend

The business 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 dividend of $0.31 per share. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.78%. Berry Global Group’s payout ratio is presently 28.25%.

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.