Berry Global Group, Inc. (NYSE:BERY) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,832 shares of the industrial products company’s stock after purchasing an additional 173 shares during the quarter. M&T Bank Corp’s holdings in Berry Global Group were worth $396,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Guardian Wealth Management Inc. raised its position in Berry Global Group by 1.2% in the third quarter. Guardian Wealth Management Inc. now owns 29,990 shares of the industrial products company’s stock valued at $2,039,000 after purchasing an additional 367 shares during the period. Barclays PLC raised its holdings in shares of Berry Global Group by 87.1% during the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after buying an additional 47,476 shares during the period. Public Employees Retirement System of Ohio lifted its position in Berry Global Group by 8.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,785 shares of the industrial products company’s stock worth $3,792,000 after acquiring an additional 4,458 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Berry Global Group during the 3rd quarter worth approximately $440,000. Finally, XTX Topco Ltd boosted its holdings in Berry Global Group by 51.7% in the 3rd quarter. XTX Topco Ltd now owns 16,367 shares of the industrial products company’s stock worth $1,113,000 after acquiring an additional 5,578 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Down 3.0 %

Shares of Berry Global Group stock opened at $64.66 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The business has a 50-day moving average price of $69.08 and a 200 day moving average price of $65.67. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The firm has a market cap of $7.45 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.38 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was 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 yield of 1.92%. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BERY. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Truist Financial reaffirmed a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Barclays boosted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Morgan Stanley assumed coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Finally, StockNews.com initiated coverage on Berry Global Group in a research note on Thursday. They issued a “buy” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.40.

Insiders Place Their Bets

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently 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.