Berry Global Group, Inc. (NYSE:BERY) Given Average Recommendation of “Hold” by Brokerages

Berry Global Group, Inc. (NYSE:BERY) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $73.30.

A number of brokerages have recently commented on BERY. Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com assumed coverage on shares of Berry Global Group in a research report on Tuesday, January 28th. They set a “buy” rating on the stock. Truist Financial upped their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Royal Bank of Canada increased their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st.

Institutional Investors Weigh In On Berry Global Group

A number of large investors have recently bought and sold shares of BERY. Geode Capital Management LLC boosted its position in shares of Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after purchasing an additional 27,437 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after acquiring an additional 8,622 shares in the last quarter. Hancock Whitney Corp acquired a new stake in Berry Global Group in the third quarter valued at approximately $1,065,000. Integrated Investment Consultants LLC bought a new stake in shares of Berry Global Group during the third quarter valued at approximately $714,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Berry Global Group by 4.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after purchasing an additional 37,242 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Trading Down 0.6 %

NYSE BERY opened at $67.93 on Tuesday. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Berry Global Group has a twelve month low of $54.06 and a twelve month high of $73.31. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The business’s fifty day moving average is $67.56 and its 200 day moving average is $67.07.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. Berry Global Group’s payout ratio is presently 28.25%.

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.