StockNews.com Initiates Coverage on Berry Global Group (NYSE:BERY)

Stock analysts at StockNews.com initiated coverage on shares of Berry Global Group (NYSE:BERY) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the industrial products company’s stock.

A number of other research firms have also recently commented on BERY. Morgan Stanley began 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 on the stock. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Citigroup restated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.40.

Berry Global Group Stock Down 0.1 %

Shares of BERY stock opened at $65.07 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The stock has a 50 day moving average of $68.62 and a 200 day moving average of $65.80. The stock has a market cap of $7.50 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.38 and a beta of 1.14.

Insider Buying and Selling at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in Berry Global Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock worth $21,711,000 after purchasing an additional 3,744 shares during the period. Tidal Investments LLC boosted its stake in shares of Berry Global Group by 71.0% in the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock valued at $2,129,000 after buying an additional 13,004 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Berry Global Group during the third quarter worth $463,000. Sanctuary Advisors LLC purchased a new position in Berry Global Group in the third quarter worth $389,000. Finally, Hohimer Wealth Management LLC acquired a new stake in Berry Global Group in the third quarter valued at $367,000. 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.