Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its position in Berry Global Group, Inc. (NYSE:BERY) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,120 shares of the industrial products company’s stock after selling 19,971 shares during the quarter. Citigroup Inc. owned 0.19% of Berry Global Group worth $14,420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Eminence Capital LP raised its stake in shares of Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Berry Global Group by 29.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,438,866 shares of the industrial products company’s stock valued at $84,677,000 after purchasing an additional 325,562 shares in the last quarter. Finally, Khrom Capital Management LLC raised its stake in shares of Berry Global Group by 15.2% in the 2nd quarter. Khrom Capital Management LLC now owns 1,240,083 shares of the industrial products company’s stock valued at $72,979,000 after purchasing an additional 163,613 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Price Performance

NYSE BERY opened at $71.57 on Thursday. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $73.31. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The company has a 50-day moving average price of $68.37 and a two-hundred day moving average price of $64.60.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.31 dividend. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.73%. Berry Global Group’s dividend payout ratio is 25.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BERY shares. Barclays upped their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday. Finally, Truist Financial reiterated a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.73.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.