Victory Capital Management Inc. Increases Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Victory Capital Management Inc. lifted its position in Berry Global Group, Inc. (NYSE:BERY) by 36.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,281 shares of the industrial products company’s stock after buying an additional 25,382 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Berry Global Group worth $6,477,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related 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 completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday. Truist Financial reiterated a “hold” rating and set a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday. Morgan Stanley assumed coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $82.00 to $75.00 in a research report on Friday. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $72.00.

Berry Global Group Stock Performance

NYSE:BERY opened at $71.69 on Friday. The firm has a market cap of $8.22 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $72.50. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The business has a 50 day moving average price of $68.09 and a 200-day moving average price of $64.32.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.31 dividend. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. Berry Global Group’s dividend payout ratio (DPR) is presently 25.06%.

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.