Berry Global Group (NYSE:BERY) Price Target Raised to $75.00

Berry Global Group (NYSE:BERY) had its target price boosted by Barclays from $64.00 to $75.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

BERY has been the subject of several other reports. 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. Royal Bank of Canada upped their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. 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 price objective on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Truist Financial restated a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $72.35 on Wednesday. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.26 and a debt-to-equity ratio of 2.08. The firm has a 50 day moving average of $68.51 and a 200 day moving average of $64.70.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.31 dividend. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Monday, December 2nd. Berry Global Group’s payout ratio is currently 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 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 $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EdgePoint Investment Group Inc. raised its stake in 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 purchasing an additional 336,186 shares in the last quarter. State Street Corp increased its holdings 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 buying an additional 360,857 shares during the last quarter. FMR LLC raised its position in shares of 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 valued at $258,821,000 after buying an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $204,365,000 after acquiring an additional 807,211 shares during the last quarter. Finally, Eminence Capital LP grew its position in 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 in the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.