Berry Global Group (NYSE:BERY) Sets New 52-Week High After Dividend Announcement

by · The Markets Daily

Berry Global Group, Inc. (NYSE:BERY – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $70.91 and last traded at $70.62, with a volume of 374994 shares trading hands. The stock had previously closed at $69.73.

The newly announced dividend which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.31 dividend. This is a boost 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 yield of 1.76%. Berry Global Group’s payout ratio is 23.50%.

Analysts Set New Price Targets

BERY has been the subject of several analyst reports. UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Truist Financial boosted their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Morgan Stanley started coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Finally, StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.22.

View Our Latest Stock Report on Berry Global Group

Berry Global Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $8.09 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The stock’s fifty day simple moving average is $67.92 and its two-hundred day simple moving average is $63.19.

Berry Global Group (NYSE:BERY – Get Free Report) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the firm posted $1.90 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts expect that Berry Global Group, Inc. will post 7.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction on 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 directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group in the 2nd quarter valued at $27,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares during the period. LRI Investments LLC lifted its position in shares of Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group during the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC acquired a new position in shares of Berry Global Group during the 2nd quarter valued at $44,000. 95.36% of the stock is owned by institutional investors.

Berry Global Group Company Profile

(Get Free Report)

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.

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