Vestcor Inc Reduces Position in Berry Global Group, Inc. (NYSE:BERY)

Vestcor Inc lowered its stake in Berry Global Group, Inc. (NYSE:BERY) by 92.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 686 shares of the industrial products company’s stock after selling 8,200 shares during the period. Vestcor Inc’s holdings in Berry Global Group were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BERY. Altshuler Shaham Ltd acquired a new position in shares of Berry Global Group in the 2nd quarter valued at $27,000. Quest Partners LLC increased its holdings 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 valued at $32,000 after purchasing an additional 548 shares during the period. LRI Investments LLC raised its stake 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 acquired a new stake in shares of Berry Global Group during the second quarter worth about $42,000. Finally, American Capital Advisory LLC purchased a new stake in Berry Global Group in the second quarter valued at approximately $44,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s 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 directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $67.94 on Friday. The stock has a market capitalization of $7.83 billion, a P/E ratio of 15.48, a PEG ratio of 1.38 and a beta of 1.14. The business has a 50 day simple moving average of $69.05 and a two-hundred day simple moving average of $65.47. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80.

Berry Global Group Increases Dividend

The company also recently disclosed 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 an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s dividend payout ratio is currently 28.25%.

Analyst Ratings Changes

Several brokerages have commented on BERY. Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Royal Bank of Canada increased their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Truist Financial reiterated a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Finally, Citigroup reiterated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.73.

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.