Berry Global Group (NYSE:BERY) Shares Gap Down – Should You Sell?

Berry Global Group, Inc. (NYSE:BERY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $70.95, but opened at $65.61. Berry Global Group shares last traded at $65.19, with a volume of 479,516 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. StockNews.com began coverage on Berry Global Group in a research note on Thursday. They issued a “hold” rating for the company. Truist Financial boosted their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, UBS Group reduced their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.22.

Berry Global Group Stock Up 0.4 %

The stock has a market cap of $7.71 billion, a PE ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 1.14. The business has a 50 day moving average price of $68.01 and a 200 day moving average price of $63.57. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.84%. 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 is currently 23.50%.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $2,119,889.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

Several institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its holdings in Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 548 shares in the last quarter. LRI Investments LLC lifted its holdings 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 valued at $36,000 after purchasing an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group in the second quarter valued at about $42,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Berry Global Group during the second quarter worth about $44,000. 95.36% of the stock is 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.