Berry Global Group (NYSE:BERY) Upgraded at StockNews.com

StockNews.com upgraded shares of Berry Global Group (NYSE:BERY) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Several other equities analysts also recently commented on the stock. Morgan Stanley started coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial raised their price objective 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 lowered their price target 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Up 0.2 %

Shares of Berry Global Group stock opened at $70.58 on Wednesday. The stock has a 50-day simple moving average of $67.92 and a 200-day simple moving average of $63.19. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $71.52. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.16 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts expect that Berry Global Group will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend 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 yield of 1.76%. Berry Global Group’s dividend payout ratio is 23.50%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was 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 $2,119,889.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Berry Global Group by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,885 shares of the industrial products company’s stock worth $1,021,000 after acquiring an additional 487 shares during the period. State of Michigan Retirement System boosted its holdings in Berry Global Group by 0.7% during the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock valued at $1,724,000 after purchasing an additional 200 shares in the last quarter. Norden Group LLC bought a new stake in shares of Berry Global Group in the 1st quarter valued at approximately $259,000. Leeward Investments LLC MA raised its holdings in shares of Berry Global Group by 4.9% in the 1st quarter. Leeward Investments LLC MA now owns 173,826 shares of the industrial products company’s stock worth $10,513,000 after buying an additional 8,185 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Berry Global Group by 15.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 9,711 shares of the industrial products company’s stock worth $587,000 after buying an additional 1,302 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.