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

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

Other research analysts also recently issued reports about the stock. Barclays lifted their target price 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. UBS Group downgraded shares of 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 note on Friday, November 22nd. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.40.

Berry Global Group Price Performance

BERY opened at $65.02 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $68.42 and its 200 day simple moving average is $65.84. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.38 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.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group 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 value of $981,820.00. Following the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several large investors have recently made changes to their positions in BERY. EdgePoint Investment Group Inc. increased its position in Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after buying an additional 1,393,955 shares in the last quarter. FMR LLC increased its holdings in shares of Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Berry Global Group by 30.3% in the 2nd 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 during the last quarter. Eminence Capital LP boosted its stake in Berry Global Group by 22.2% in the 2nd 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. Finally, Marshall Wace LLP purchased a new stake in Berry Global Group during the 2nd quarter valued at about $25,688,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.