Brokerages Set Berry Global Group, Inc. (NYSE:BERY) Target Price at $73.73

Shares of Berry Global Group, Inc. (NYSE:BERY) have received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $73.73.

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays raised their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. StockNews.com began coverage on shares of Berry Global Group in a report on Wednesday. They set a “buy” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, Morgan Stanley started coverage on shares of 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.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC lifted its stake in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC boosted its holdings in Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after buying an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group in the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC bought a new stake in Berry Global Group during the 2nd quarter valued at $44,000. 95.36% of the stock is owned by institutional investors.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $68.77 on Monday. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.39 and a beta of 1.14. The firm has a 50 day simple moving average of $68.97 and a 200 day simple moving average of $65.38.

Berry Global Group Increases Dividend

The company also recently announced 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 1.80%. Berry Global Group’s dividend payout ratio is presently 28.25%.

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.