Analysts Set Berry Global Group, Inc. (NYSE:BERY) Price Target at $71.22

Berry Global Group, Inc. (NYSE:BERY) has received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $71.00.

Several analysts have issued reports on the company. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Truist Financial reaffirmed a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday. Finally, Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock.

Berry Global Group Stock Up 4.3 %

Shares of NYSE BERY opened at $69.01 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $7.91 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. The stock’s fifty day simple moving average is $67.99 and its two-hundred day simple moving average is $64.27. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $72.50.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a yield of 1.80%. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after buying an additional 1,200,021 shares during the last quarter. State Street Corp raised its stake in shares of Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares during the last quarter. FMR LLC raised its stake in shares of Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after buying an additional 807,211 shares during the last quarter. Hedge funds and other institutional investors 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.