Berry Global Group (NYSE:BERY) Price Target Raised to $73.00

Berry Global Group (NYSE:BERY) had its price objective hoisted by stock analysts at Royal Bank of Canada from $69.00 to $73.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 4.27% from the stock’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Truist Financial reaffirmed a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday. Finally, Morgan Stanley started 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 for the company. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average price target of $72.22.

Berry Global Group Stock Up 1.5 %

Berry Global Group stock traded up $1.01 during mid-day trading on Thursday, hitting $70.01. 498,149 shares of the company’s stock were exchanged, compared to its average volume of 1,055,163. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $72.50. The stock has a 50 day moving average of $67.99 and a two-hundred day moving average of $64.27. The stock has a market cap of $8.02 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.09 and a beta of 1.14. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the company’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 transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds have recently added to or reduced their stakes in BERY. M&T Bank Corp increased its stake in Berry Global Group by 3.1% in the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 173 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Berry Global Group by 1.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after buying an additional 176 shares in the last quarter. Creative Planning raised its stake in Berry Global Group by 3.0% during the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after buying an additional 198 shares during the period. Guardian Wealth Management Inc. lifted its holdings in Berry Global Group by 1.0% during the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 287 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Berry Global Group by 9.1% in the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 311 shares in the last quarter. Institutional investors and hedge funds 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.