Sanctuary Advisors LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Sanctuary Advisors LLC bought a new stake in Berry Global Group, Inc. (NYSE:BERY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,429 shares of the industrial products company’s stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BERY. Bank of New York Mellon Corp raised its holdings in Berry Global Group by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,184,656 shares of the industrial products company’s stock worth $69,717,000 after purchasing an additional 10,194 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Berry Global Group in the 2nd quarter worth about $759,000. Commonwealth Equity Services LLC increased its stake in shares of Berry Global Group by 7.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,459 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 748 shares in the last quarter. Natixis Advisors LLC lifted its position in Berry Global Group by 5.5% during the 2nd quarter. Natixis Advisors LLC now owns 57,170 shares of the industrial products company’s stock valued at $3,364,000 after acquiring an additional 2,997 shares during the period. Finally, Foster & Motley Inc. bought a new stake in Berry Global Group during the second quarter worth about $430,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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 transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Berry Global Group Stock Performance

Shares of BERY stock opened at $65.07 on Friday. 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 company has a 50 day moving average price of $68.62 and a 200-day moving average price of $65.80. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $73.31. The firm has a market capitalization of $7.50 billion, a PE ratio of 14.82, a P/E/G ratio of 1.38 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently announced 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 is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.91%. Berry Global Group’s payout ratio is currently 28.25%.

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.