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

Berry Global Group, Inc. (NYSE:BERY) has earned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $73.40.

A number of research firms have weighed in on BERY. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Barclays lifted 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. Royal Bank of Canada lifted their price target 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. Finally, Citigroup restated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th.

Berry Global Group Stock Down 0.1 %

Berry Global Group stock opened at $64.59 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The stock has a market capitalization of $7.44 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The business has a 50 day simple moving average of $68.08 and a 200-day simple moving average of $65.99. Berry Global Group has a 12 month low of $54.06 and a 12 month high of $73.31.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is presently 28.25%.

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 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 sale, the director now 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 filing with the SEC, which is available at this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several hedge funds have recently modified their holdings of the stock. EdgePoint Investment Group Inc. grew its holdings in Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after purchasing an additional 1,393,955 shares during the period. FMR LLC boosted its position in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Berry Global Group by 30.3% during the second 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. Eminence Capital LP raised its stake in shares of Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after acquiring an additional 492,793 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Berry Global Group in the 2nd quarter worth approximately $25,688,000. 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.