Berry Global Group (NYSE:BERY) Given Hold Rating at Truist Financial

Berry Global Group (NYSE:BERY)‘s stock had its “hold” rating reiterated by stock analysts at Truist Financial in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $72.00 target price on the industrial products company’s stock, down from their previous target price of $74.00. Truist Financial’s price target would indicate a potential upside of 1.51% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Morgan Stanley assumed 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.22.

Berry Global Group Stock Performance

NYSE:BERY opened at $70.93 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $8.13 billion, a PE ratio of 16.16, a P/E/G ratio of 1.09 and a beta of 1.14. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $72.50. The company has a fifty day moving average of $67.99 and a two-hundred day moving average of $64.27.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 9,483 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Berry Global Group in the 1st quarter valued at about $691,000. BOKF NA boosted its position in shares of Berry Global Group by 26.3% in the 1st quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock valued at $4,809,000 after purchasing an additional 16,497 shares during the period. Vanguard Group Inc. grew its stake in Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after buying an additional 1,200,021 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after buying an additional 37,242 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.