Everence Capital Management Inc. Purchases New Position in Berry Global Group, Inc. (NYSE:BERY)

Everence Capital Management Inc. acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 3,330 shares of the industrial products company’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of BERY. Altshuler Shaham Ltd bought a new stake in Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its holdings in shares of 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 worth $32,000 after purchasing an additional 548 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Berry Global Group during the second quarter worth $42,000. Capital Performance Advisors LLP bought a new position in shares of Berry Global Group in the third quarter valued at about $75,000. Finally, GAMMA Investing LLC raised its holdings in shares of Berry Global Group by 332.6% in the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after buying an additional 908 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $66.25 on Thursday. The firm’s 50 day simple moving average is $67.84 and its 200 day simple moving average is $66.16. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost 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 currently 28.25%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BERY has been the subject of several research reports. Truist Financial raised their price objective on shares of Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. StockNews.com started coverage on Berry Global Group in a research report on Saturday, January 4th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Finally, Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.60.

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.