Victory Capital Management Inc. Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Victory Capital Management Inc. raised its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 36.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,281 shares of the industrial products company’s stock after buying an additional 25,382 shares during the quarter. Victory Capital Management Inc.’s holdings in Berry Global Group were worth $6,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Berry Global Group during the second quarter valued at $27,000. Quest Partners LLC lifted its position in Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares during the period. LRI Investments LLC lifted its position in Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group during the second quarter valued at $42,000. Finally, American Capital Advisory LLC purchased a new position in Berry Global Group during the second quarter valued at $44,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Berry Global Group Trading Up 1.1 %

Shares of BERY stock opened at $71.69 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $72.50. The stock has a market capitalization of $8.22 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.09 and a beta of 1.14. The firm’s 50 day moving average is $68.09 and its 200 day moving average is $64.32.

Berry Global Group Increases Dividend

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

Analysts Set New Price Targets

BERY has been the subject of several recent research reports. UBS Group lowered 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 report on Friday. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Truist Financial restated a “hold” rating and set a $72.00 price target (down from $74.00) on shares of Berry Global Group in a report on Wednesday. Finally, Royal Bank of Canada raised 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. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.00.

Berry Global Group 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.