Pallas Capital Advisors LLC Takes $403,000 Position in Berry Global Group, Inc. (NYSE:BERY)

Pallas Capital Advisors LLC bought a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,880 shares of the industrial products company’s stock, valued at approximately $403,000.

Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of Berry Global Group by 3.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,962 shares of the industrial products company’s stock valued at $1,560,000 after acquiring an additional 730 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Berry Global Group by 95.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,280 shares of the industrial products company’s stock valued at $1,039,000 after purchasing an additional 7,447 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Berry Global Group by 0.9% during the third quarter. Ballentine Partners LLC now owns 59,121 shares of the industrial products company’s stock worth $4,019,000 after purchasing an additional 501 shares during the period. Tectonic Advisors LLC lifted its position in shares of Berry Global Group by 1.8% in the 3rd quarter. Tectonic Advisors LLC now owns 76,231 shares of the industrial products company’s stock worth $5,182,000 after buying an additional 1,341 shares during the last quarter. Finally, Dakota Wealth Management boosted its holdings in shares of Berry Global Group by 26.2% in the 3rd quarter. Dakota Wealth Management now owns 31,770 shares of the industrial products company’s stock valued at $2,160,000 after buying an additional 6,600 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Berry Global Group Trading Down 0.4 %

NYSE:BERY opened at $70.45 on Friday. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.10 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $71.17. The business has a fifty day moving average of $67.83 and a 200-day moving average of $63.14.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. Berry Global Group’s revenue was down 2.1% compared to the same quarter last year. Equities analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.76%. Berry Global Group’s dividend payout ratio (DPR) is 23.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on BERY. UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial increased their target price on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.22.

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.