Barclays Increases Berry Global Group (NYSE:BERY) Price Target to $60.00

Berry Global Group (NYSE:BERYGet Rating) had its target price lifted by Barclays from $55.00 to $60.00 in a report issued on Tuesday morning, The Fly reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on BERY. Citigroup decreased their price target on shares of Berry Global Group from $72.00 to $66.00 and set a buy rating for the company in a research report on Tuesday, October 11th. Mizuho decreased their price target on shares of Berry Global Group from $69.00 to $63.00 and set a neutral rating for the company in a research report on Wednesday, November 16th. Bank of America decreased their price objective on shares of Berry Global Group from $77.00 to $72.00 in a research report on Thursday, October 13th. Morgan Stanley decreased their price objective on shares of Berry Global Group from $61.00 to $55.00 and set an equal weight rating for the company in a research report on Tuesday, October 18th. Finally, Truist Financial decreased their price objective on shares of Berry Global Group to $68.00 in a research report on Thursday, November 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $67.25.

Berry Global Group Trading Up 2.9 %

Shares of NYSE BERY opened at $55.75 on Tuesday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.04 and a current ratio of 1.79. Berry Global Group has a 52-week low of $44.52 and a 52-week high of $74.73. The firm has a 50 day moving average price of $48.99 and a two-hundred day moving average price of $53.50. The stock has a market cap of $7.54 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, November 30th.

Insiders Place Their Bets

In other Berry Global Group news, CEO Tom Salmon sold 24,207 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were 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 directly owns 66,193 shares in the company, valued at $1,059,088. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Berry Global Group news, CEO Tom Salmon sold 24,207 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $16.00, for a total value of $387,312.00. Following the transaction, the chief executive officer now directly owns 66,193 shares of the company’s stock, valued at $1,059,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Edward Hill sold 1,000 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $47.17, for a total transaction of $47,170.00. 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 made changes to their positions in the business. Turtle Creek Asset Management Inc. lifted its position in shares of Berry Global Group by 6.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 6,608,110 shares of the industrial products company’s stock valued at $383,006,000 after purchasing an additional 415,879 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Berry Global Group by 30.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,550,727 shares of the industrial products company’s stock valued at $263,760,000 after purchasing an additional 1,053,476 shares in the last quarter. LSV Asset Management lifted its position in shares of Berry Global Group by 2.3% during the third quarter. LSV Asset Management now owns 4,522,665 shares of the industrial products company’s stock valued at $210,440,000 after purchasing an additional 100,381 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Berry Global Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,470,924 shares of the industrial products company’s stock valued at $161,502,000 after purchasing an additional 40,462 shares in the last quarter. Finally, Canyon Capital Advisors LLC lifted its position in shares of Berry Global Group by 15.2% during the first quarter. Canyon Capital Advisors LLC now owns 2,840,398 shares of the industrial products company’s stock valued at $164,629,000 after purchasing an additional 375,095 shares in the last quarter. 89.88% of the stock is owned by institutional investors.

Berry Global Group Company Profile

(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.

See Also

The Fly logo

Analyst Recommendations for Berry Global Group (NYSE:BERY)

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.