Berry Global Group’s (BERY) Overweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of Berry Global Group (NYSE:BERY) in a report released on Monday, MarketBeat reports. They currently have a $76.00 price objective on the industrial products company’s stock, up from their prior price objective of $70.00.

Several other research analysts have also weighed in on the stock. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada raised their price target on 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. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus price target of $73.73.

Berry Global Group Trading Up 1.2 %

NYSE:BERY opened at $71.57 on Monday. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.14. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $73.31. The business’s 50-day moving average price is $68.45 and its two-hundred day moving average price is $64.65. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. 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 1.73%. Berry Global Group’s dividend payout ratio (DPR) is 25.06%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’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 value of $981,820.00. Following the completion of the transaction, the director now directly owns 30,228 shares in the company, valued at $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 available through this link. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Berry Global Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd increased its holdings in Berry Global Group by 11.8% during the first 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 last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Berry Global Group by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,114 shares of the industrial products company’s stock valued at $5,390,000 after acquiring an additional 5,731 shares during the period. SVB Wealth LLC bought a new position in shares of Berry Global Group in the 1st quarter valued at about $288,000. Tidal Investments LLC increased its stake in shares of Berry Global Group by 9.5% during the 1st quarter. Tidal Investments LLC now owns 15,890 shares of the industrial products company’s stock worth $961,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Berry Global Group by 3.4% in the 1st quarter. Comerica Bank now owns 91,867 shares of the industrial products company’s stock valued at $5,556,000 after purchasing an additional 3,055 shares during the period. 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.