Sanctuary Advisors LLC Acquires New Position in Berry Global Group, Inc. (NYSE:BERY)

Sanctuary Advisors LLC bought a new position in Berry Global Group, Inc. (NYSE:BERY) in the 3rd quarter, Holdings Channel reports. The fund bought 5,429 shares of the industrial products company’s stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC bought a new position in shares of Berry Global Group in the third quarter worth approximately $367,000. TD Private Client Wealth LLC lifted its stake in shares of Berry Global Group by 5,508.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 8,132 shares of the industrial products company’s stock valued at $553,000 after buying an additional 7,987 shares in the last quarter. Neo Ivy Capital Management boosted its holdings in Berry Global Group by 159.7% in the 3rd quarter. Neo Ivy Capital Management now owns 35,322 shares of the industrial products company’s stock worth $2,402,000 after buying an additional 21,722 shares during the period. Geode Capital Management LLC boosted 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 buying an additional 27,437 shares during the period. Finally, M&T Bank Corp increased its stake in Berry Global Group by 3.1% in the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after buying an additional 173 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Down 0.1 %

Shares of NYSE BERY opened at $65.07 on Friday. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.38 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $73.31. 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 firm’s 50-day moving average price is $68.62 and its 200-day moving average price is $65.80.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.91%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial reaffirmed a “hold” rating and issued a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. 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 research note on Wednesday, November 27th. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Citigroup reissued a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Finally, UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.40.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the firm’s 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 sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.00% of the company’s stock.

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.