Berry Global Group (NYSE:BERY) Reaches New 12-Month High – Should You Buy?

Berry Global Group, Inc. (NYSE:BERY)’s stock price reached a new 52-week high on Monday . The stock traded as high as $72.77 and last traded at $72.66, with a volume of 295831 shares changing hands. The stock had previously closed at $71.71.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BERY shares. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Citigroup restated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a report on Monday. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Finally, Barclays lifted their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.73.

Berry Global Group Trading Up 1.2 %

The company has a market cap of $8.20 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.42 and a beta of 1.14. The business’s 50-day moving average price is $68.37 and its 200 day moving average price is $64.60. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.26 and a current ratio of 0.41.

Berry Global Group Increases Dividend

The firm also recently declared 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 represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is 25.06%.

Insider Buying and Selling at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred 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 sale, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

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