Mutual of America Capital Management LLC Sells 3,564 Shares of Berry Global Group, Inc. (NYSE:BERY)

Mutual of America Capital Management LLC lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 5.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 61,937 shares of the industrial products company’s stock after selling 3,564 shares during the period. Mutual of America Capital Management LLC’s holdings in Berry Global Group were worth $4,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its holdings in Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC increased its holdings in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group during the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group during the 2nd quarter valued at $44,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Up 2.8 %

NYSE:BERY opened at $70.93 on Friday. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $72.50. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $8.13 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.09 and a beta of 1.14. The stock’s fifty day simple moving average is $67.99 and its 200-day simple moving average is $64.27.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given 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 dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is currently 25.06%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BERY shares. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. 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. Royal Bank of Canada lifted their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Truist Financial reissued 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.22.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is owned by corporate insiders.

About Berry Global Group

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.