Berry Global Group (NYSE:BERY) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research note issued to investors on Monday.

Several other analysts have also recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. JPMorgan Chase & Co. restated 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. Royal Bank of Canada increased 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, Truist Financial restated a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.73.

Berry Global Group Trading Up 1.2 %

Shares of BERY stock opened at $71.57 on Monday. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The company’s 50-day moving average price is $68.45 and its 200-day moving average price is $64.65. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio (DPR) is presently 25.06%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the business’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 completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Berry Global Group

Several hedge funds and other institutional investors have recently made changes to their positions in BERY. M&T Bank Corp raised its holdings 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 acquiring an additional 173 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings 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 purchasing an additional 176 shares in the last quarter. Creative Planning lifted its position in shares of 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 purchasing an additional 198 shares during the last quarter. Guardian Wealth Management Inc. grew its stake in shares of 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 purchasing an additional 287 shares in the last quarter. Finally, US Bancorp DE increased its holdings in 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 valued at $253,000 after buying an additional 311 shares during the last quarter. Hedge funds and other 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.