Berry Global Group (NYSE:BERY) Given “Hold” Rating at Truist Financial

Truist Financial restated their hold rating on shares of Berry Global Group (NYSE:BERY) in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a $72.00 price objective on the industrial products company’s stock, down from their prior price objective of $74.00.

BERY has been the topic of several other research reports. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Morgan Stanley assumed 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 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average target price of $71.00.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $69.01 on Wednesday. The business has a 50-day moving average of $67.99 and a two-hundred day moving average of $64.27. The firm has a market capitalization of $7.91 billion, a PE ratio of 15.72, a P/E/G ratio of 1.10 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. 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. Stockholders of record on Monday, December 2nd will be given 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 (DPR) is presently 28.25%.

Insiders Place Their Bets

In related news, Director Evan Bayh sold 14,000 shares of the company’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 in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by corporate 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. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 16.7% during the first quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock valued at $819,441,000 after purchasing an additional 1,934,137 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after acquiring an additional 1,200,021 shares during the period. FMR LLC lifted its stake in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after acquiring an additional 807,211 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Berry Global Group by 280.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after acquiring an additional 588,114 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.