StockNews.com Begins Coverage on Berry Global Group (NYSE:BERY)

StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research note published on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Several other equities research analysts also recently issued reports on BERY. Truist Financial lifted their price objective on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. Finally, UBS Group dropped their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.22.

Berry Global Group Price Performance

BERY stock opened at $67.29 on Thursday. 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 has a 52-week low of $54.06 and a 52-week high of $71.63. The stock’s 50 day moving average is $67.97 and its two-hundred day moving average is $63.72. The company has a market capitalization of $7.71 billion, a PE ratio of 14.38, a P/E/G ratio of 1.10 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 1.84%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s payout ratio is 23.50%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC boosted its position in Berry Global Group by 54,800.0% during 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 during the period. LRI Investments LLC boosted its position in Berry Global Group by 1,309.1% during the 2nd 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 period. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group during the 2nd quarter worth $42,000. Finally, American Capital Advisory LLC acquired a new position in Berry Global Group during the 2nd quarter worth $44,000. 95.36% of the stock is currently owned by institutional investors.

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.