Covestor Ltd Sells 422 Shares of Berry Global Group, Inc. (NYSE:BERY)

Covestor Ltd reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,266 shares of the industrial products company’s stock after selling 422 shares during the quarter. Covestor Ltd’s holdings in Berry Global Group were worth $154,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. boosted its stake in Berry Global Group by 16.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock valued at $819,441,000 after purchasing an additional 1,934,137 shares during the last quarter. Vanguard Group Inc. increased its holdings in Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Berry Global Group by 30.3% in the second 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. Allspring Global Investments Holdings LLC boosted its position in Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after acquiring an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP grew its position in shares of 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 buying an additional 492,793 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

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 dated Tuesday, October 15th. The stock was 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Truist Financial raised their price objective on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com assumed coverage on Berry Global Group in a research note on Thursday, November 7th. They set a “hold” rating for the company. Finally, Morgan Stanley started coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.22.

Berry Global Group Stock Up 1.5 %

Shares of NYSE BERY opened at $68.28 on Tuesday. The firm’s 50-day moving average is $67.96 and its two-hundred day moving average is $63.85. The company has a market capitalization of $7.82 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $71.63. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is currently 26.50%.

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.