Berry Global Group (NYSE:BERY) Stock Rating Lowered by UBS Group

Berry Global Group (NYSE:BERY) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $75.00 price objective on the industrial products company’s stock, down from their prior price objective of $82.00. UBS Group’s price target suggests a potential upside of 4.59% from the stock’s previous close.

Several other equities analysts have also recently issued reports on BERY. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Truist Financial reiterated a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Trading Up 1.1 %

NYSE:BERY opened at $71.71 on Friday. The company has a market cap of $8.22 billion, a PE 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 two-hundred day moving average is $64.40. 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 52 week low of $54.06 and a 52 week high of $72.50.

Insiders Place Their Bets

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 sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BERY. EdgePoint Investment Group Inc. grew its position in Berry Global Group by 2.2% in the 3rd 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 buying an additional 336,186 shares in the last quarter. State Street Corp lifted its stake in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares during the period. FMR LLC boosted its holdings in shares of Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP increased 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 acquiring an additional 807,211 shares during the period. Finally, Eminence Capital LP increased 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 period. 95.36% of the stock is owned by institutional investors and hedge funds.

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.