Berry Global Group, Inc. (NYSE:BERY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Berry Global Group, Inc. (NYSE:BERY) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 93,115 shares of the industrial products company’s stock after selling 3,583 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Berry Global Group were worth $6,330,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after buying an additional 176 shares during the period. Creative Planning increased its position in shares of Berry Global Group by 3.0% in the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 198 shares in the last quarter. Guardian Wealth Management Inc. raised its stake in shares of Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock valued at $1,743,000 after acquiring an additional 287 shares during the period. US Bancorp DE lifted its holdings in shares of Berry Global Group by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 311 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Berry Global Group by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 355 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

BERY opened at $69.77 on Friday. The company has a market capitalization of $8.04 billion, a P/E ratio of 15.89, a PEG ratio of 1.42 and a beta of 1.14. The company has a 50-day moving average of $68.83 and a 200-day moving average of $65.08. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $73.31.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s payout ratio is currently 28.25%.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group 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 completion of the transaction, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Barclays upped their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada lifted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Finally, Truist Financial restated a “hold” rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and a consensus price target of $73.73.

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.