Barclays Issues Positive Forecast for Berry Global Group (NYSE:BERY) Stock Price

Berry Global Group (NYSE:BERY) had its target price upped by Barclays from $64.00 to $75.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup restated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Finally, Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.73.

Berry Global Group Price Performance

Berry Global Group stock opened at $72.31 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.26 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $8.29 billion, a P/E ratio of 16.48, a PEG ratio of 1.43 and a beta of 1.14. The business has a 50-day moving average of $68.62 and a 200-day moving average of $64.79. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $73.31.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.71%. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Insider Buying and Selling at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the transaction, 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 is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. grew its holdings in shares of Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after acquiring an additional 1,393,955 shares in the last quarter. FMR LLC grew its stake in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after purchasing an additional 588,114 shares during the last quarter. Finally, Eminence Capital LP raised its stake in shares of Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares in the last quarter. 95.36% of the stock is 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.