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

Equities research analysts at StockNews.com assumed coverage on shares of Berry Global Group (NYSE:BERY) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Barclays boosted their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. Finally, Truist Financial restated a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.73.

Berry Global Group Stock Performance

Shares of BERY opened at $70.99 on Tuesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The firm has a market capitalization of $8.18 billion, a P/E ratio of 16.17, a PEG ratio of 1.42 and a beta of 1.14. The business has a fifty day moving average of $68.81 and a 200 day moving average of $65.05.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EdgePoint Investment Group Inc. grew its stake in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after purchasing an additional 336,186 shares in the last quarter. State Street Corp grew its stake in Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after purchasing an additional 360,857 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 worth $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Berry Global Group by 30.3% in the second 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 in the last quarter. Finally, Eminence Capital LP grew its stake in Berry Global Group by 22.2% in the second 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. Institutional investors 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.