Berry Global Group (NYSE:BERY) Price Target Raised to $74.00 at Truist Financial

Berry Global Group (NYSE:BERY) had its price objective boosted by Truist Financial from $72.00 to $74.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Saturday. They issued a “buy” rating for the company. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.60.

Berry Global Group Price Performance

Shares of BERY opened at $65.19 on Monday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.38 and a beta of 1.16. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The stock has a 50 day moving average of $67.91 and a 200-day moving average of $66.12. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.31 per share. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.90%. Berry Global Group’s dividend payout ratio is 28.25%.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s 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 completion of the sale, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC lifted its holdings in shares of Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group during the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Berry Global Group in the third quarter valued at $75,000. Finally, GAMMA Investing LLC increased its position in shares of Berry Global Group by 332.6% in the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 908 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.