Berry Global Group (NYSE:BERY) Price Target Raised to $75.00 at Barclays

Berry Global Group (NYSE:BERY) had its target price lifted by Barclays from $64.00 to $75.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on the company. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Truist Financial restated a “hold” rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.73.

Berry Global Group Trading Up 1.2 %

BERY opened at $71.57 on Wednesday. The business has a 50 day moving average of $68.37 and a 200-day moving average of $64.60. The stock has a market cap of $8.20 billion, a PE ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.14. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is 25.06%.

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the company’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 completion of the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC raised its stake in shares of Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC raised its stake in shares of Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group in the second quarter worth about $42,000. Finally, American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

About Berry Global Group

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.