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

Shares of Berry Global Group, Inc. (NYSE:BERY) have been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $71.22.

Several brokerages have recently weighed in on BERY. Morgan Stanley initiated 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 target on the stock. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Truist Financial upped their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th.

Insiders Place Their Bets

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 transaction of $981,820.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp increased its stake in shares of Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after buying an additional 173 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Berry Global Group by 1.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock worth $555,000 after buying an additional 176 shares during the period. Creative Planning increased its stake in shares of Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after buying an additional 198 shares during the period. Guardian Wealth Management Inc. increased its stake in shares of Berry Global Group by 1.0% during the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after buying an additional 287 shares during the period. Finally, US Bancorp DE increased its stake in shares of Berry Global Group by 9.1% during the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock worth $253,000 after buying an additional 311 shares during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Trading Up 0.4 %

Shares of BERY stock opened at $67.05 on Thursday. The company’s 50-day moving average price is $67.90 and its 200-day moving average price is $64.13. 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 cap of $7.68 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.10 and a beta of 1.14. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $71.63.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.85%. Berry Global Group’s dividend payout ratio is 23.50%.

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.