Berry Global Group (NYSE:BERY) Given “Neutral” Rating at Citigroup

Citigroup reaffirmed their neutral rating on shares of Berry Global Group (NYSE:BERY) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have a $76.00 price target on the industrial products company’s stock.

Several other equities research analysts have also commented on BERY. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Truist Financial restated a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Nine investment 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 stock has an average rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Stock Up 1.2 %

Shares of NYSE BERY opened at $71.57 on Monday. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The firm has a 50-day moving average price of $68.45 and a 200 day moving average price of $64.65. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 2.57.

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 paid 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 is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio is presently 25.06%.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

Several hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd raised its position in shares of Berry Global Group by 11.8% in the 1st quarter. Quadrature Capital Ltd now owns 8,285 shares of the industrial products company’s stock worth $501,000 after buying an additional 872 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Berry Global Group by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,114 shares of the industrial products company’s stock worth $5,390,000 after purchasing an additional 5,731 shares during the period. SVB Wealth LLC acquired a new stake in Berry Global Group during the 1st quarter worth approximately $288,000. Tidal Investments LLC raised its holdings in Berry Global Group by 9.5% in the first quarter. Tidal Investments LLC now owns 15,890 shares of the industrial products company’s stock valued at $961,000 after buying an additional 1,372 shares during the period. Finally, Comerica Bank raised its holdings in Berry Global Group by 3.4% in the first quarter. Comerica Bank now owns 91,867 shares of the industrial products company’s stock valued at $5,556,000 after buying an additional 3,055 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

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.