HighTower Advisors LLC Sells 212 Shares of Berry Global Group, Inc. (NYSE:BERY)

HighTower Advisors LLC decreased its holdings in Berry Global Group, Inc. (NYSE:BERY) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,629 shares of the industrial products company’s stock after selling 212 shares during the period. HighTower Advisors LLC’s holdings in Berry Global Group were worth $311,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after buying an additional 1,393,955 shares during the period. FMR LLC lifted its position in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after acquiring an additional 807,211 shares during the period. Eminence Capital LP grew its position in shares of Berry Global Group by 22.2% in the second 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 during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Berry Global Group by 29.2% during the second quarter. AQR Capital Management LLC now owns 1,438,866 shares of the industrial products company’s stock worth $84,677,000 after purchasing an additional 325,562 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Price Performance

BERY opened at $64.73 on Tuesday. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $73.31. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. The stock has a fifty day simple moving average of $68.81 and a two-hundred day simple moving average of $65.77.

Berry Global Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.92%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

BERY has been the topic of several recent research reports. StockNews.com started coverage on Berry Global Group in a research report on Thursday, December 19th. They set a “buy” rating on the stock. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Royal Bank of Canada raised their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Finally, Truist Financial reiterated a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.40.

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.