Berry Global Group, Inc. (NYSE:BERY) Stock Position Lowered by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 50.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,781 shares of the industrial products company’s stock after selling 9,114 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Berry Global Group were worth $597,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC raised its position in shares of Berry Global Group by 54,800.0% during 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 period. LRI Investments LLC lifted its holdings in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Berry Global Group in the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC purchased a new position in Berry Global Group in the 2nd quarter worth about $44,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BERY has been the subject of several research analyst reports. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. Truist Financial lifted their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average price target of $71.22.

Insider Activity at Berry Global Group

In other Berry Global Group 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 transaction 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 represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Berry Global Group Trading Up 0.6 %

NYSE:BERY opened at $66.75 on Friday. The company has a market capitalization of $7.65 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.10 and a beta of 1.14. The stock’s 50 day moving average price is $67.90 and its 200 day moving average price is $64.03. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $71.63.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 26.50%.

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.