Berry Global Group (NYSE:BERY) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Berry Global Group (NYSE:BERY) in a report released on Sunday. The firm set a “buy” rating on the industrial products company’s stock.

BERY has been the subject of a number of other research reports. Barclays boosted their price target 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. Truist Financial upped their target price on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. UBS Group lowered their price target on Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Stock Performance

Shares of BERY opened at $66.10 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. The stock has a 50-day moving average price of $67.56 and a 200-day moving average price of $66.27. The company has a market cap of $7.61 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares during the last quarter. Hancock Whitney Corp bought a new stake in shares of Berry Global Group in the third quarter worth about $1,065,000. Integrated Investment Consultants LLC bought a new stake in shares of Berry Global Group in the third quarter worth about $714,000. Allspring Global Investments Holdings LLC increased its holdings in Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after purchasing an additional 37,242 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Berry Global Group by 370.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock valued at $6,760,000 after purchasing an additional 90,428 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.