Berry Global Group (NYSE:BERY) Sees Large Volume Increase – What’s Next?

Shares of Berry Global Group, Inc. (NYSE:BERY) saw strong trading volume on Wednesday . 1,838,396 shares traded hands during trading, an increase of 78% from the previous session’s volume of 1,030,400 shares.The stock last traded at $68.25 and had previously closed at $66.16.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BERY. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Truist Financial reissued a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Berry Global Group presently has an average rating of “Hold” and an average target price of $71.00.

Berry Global Group Stock Up 4.6 %

The firm has a market cap of $7.93 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.10 and a beta of 1.14. The business’s fifty day moving average price is $67.92 and its two-hundred day moving average price is $64.24. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given 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 yield of 1.79%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is presently 28.25%.

Insider Buying and Selling

In other news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 30,228 shares in the company, valued at approximately $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 accessible through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Trading of Berry Global Group

A number of institutional investors and hedge funds have recently modified their holdings of BERY. Hohimer Wealth Management LLC acquired a new position in Berry Global Group in the third quarter worth about $367,000. TD Private Client Wealth LLC raised its position in Berry Global Group by 5,508.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 8,132 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 7,987 shares during the last quarter. Neo Ivy Capital Management boosted its stake in Berry Global Group by 159.7% in the third quarter. Neo Ivy Capital Management now owns 35,322 shares of the industrial products company’s stock worth $2,402,000 after purchasing an additional 21,722 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after buying an additional 27,437 shares during the last quarter. Finally, M&T Bank Corp lifted its position in Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after buying an additional 173 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

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.