Everence Capital Management Inc. Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Everence Capital Management Inc. purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,330 shares of the industrial products company’s stock, valued at approximately $215,000.

Several other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after purchasing an additional 27,437 shares during the period. Hancock Whitney Corp purchased a new position in shares of Berry Global Group during the third quarter valued at $1,065,000. Integrated Investment Consultants LLC acquired a new position in Berry Global Group during the third quarter valued at $714,000. Allspring Global Investments Holdings LLC lifted its stake in Berry Global Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after acquiring an additional 37,242 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Berry Global Group by 370.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock worth $6,760,000 after acquiring an additional 90,428 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial lifted their target price on shares of Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Saturday, January 4th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.60.

Berry Global Group Trading Up 0.5 %

Berry Global Group stock opened at $66.25 on Thursday. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The business has a 50 day moving average price of $67.84 and a two-hundred day moving average price of $66.16. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 represents a $1.24 dividend on an annualized basis and a yield of 1.87%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 28.25%.

Berry Global Group Company 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.