Berry Global Group (NYSE:BERY) Given New $71.00 Price Target at Royal Bank of Canada

Berry Global Group (NYSE:BERYGet Rating) had its price objective raised by Royal Bank of Canada from $69.00 to $71.00 in a research note published on Thursday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com upgraded Berry Global Group from a hold rating to a buy rating in a report on Friday, November 4th. Truist Financial cut their price target on shares of Berry Global Group from $77.00 to $70.00 in a report on Thursday, August 4th. Citigroup decreased their price objective on shares of Berry Global Group from $72.00 to $66.00 and set a buy rating for the company in a report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on Berry Global Group from $69.00 to $65.00 and set a buy rating on the stock in a report on Monday, October 24th. Finally, Wells Fargo & Company decreased their price target on Berry Global Group from $74.00 to $68.00 and set an overweight rating for the company in a research note on Wednesday, October 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $66.83.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $54.65 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.79 and a quick ratio of 1.04. Berry Global Group has a one year low of $44.52 and a one year high of $74.73. The business’s 50-day moving average price is $49.07 and its two-hundred day moving average price is $53.55. The company has a market capitalization of $7.39 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, November 30th.

Insider Transactions at Berry Global Group

In related news, CEO Tom Salmon sold 24,207 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $16.00, for a total transaction of $387,312.00. Following the transaction, the chief executive officer now owns 66,193 shares of the company’s stock, valued at $1,059,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Berry Global Group news, President Michael Edward Hill sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $47.17, for a total value of $47,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tom Salmon sold 24,207 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $16.00, for a total value of $387,312.00. Following the completion of the sale, the chief executive officer now owns 66,193 shares of the company’s stock, valued at approximately $1,059,088. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Seven Eight Capital LP bought a new stake in Berry Global Group in the 1st quarter valued at $306,000. GMT Capital Corp boosted its holdings in shares of Berry Global Group by 23.1% in the 1st quarter. GMT Capital Corp now owns 1,882,676 shares of the industrial products company’s stock worth $109,120,000 after acquiring an additional 353,100 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Berry Global Group by 59.1% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 29,277 shares of the industrial products company’s stock worth $1,600,000 after acquiring an additional 10,873 shares during the last quarter. Atria Investments LLC increased its holdings in Berry Global Group by 6.9% during the 1st quarter. Atria Investments LLC now owns 51,297 shares of the industrial products company’s stock valued at $2,973,000 after purchasing an additional 3,332 shares in the last quarter. Finally, Sawgrass Asset Management LLC bought a new position in Berry Global Group in the 1st quarter valued at $9,798,000. 89.88% of the stock is currently owned by institutional investors and hedge funds.

About Berry Global Group

(Get Rating)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.

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