Berry Global Group, Inc. (NYSE:BERY) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 98.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,561 shares of the industrial products company’s stock after selling 471,815 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Berry Global Group were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BERY. Integrated Investment Consultants LLC acquired a new position in Berry Global Group during the third quarter worth $714,000. Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after acquiring an additional 37,242 shares during the last quarter. Hancock Whitney Corp purchased a new stake in shares of Berry Global Group in the third quarter valued at about $1,065,000. Mercer Global Advisors Inc. ADV increased its position in Berry Global Group by 370.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock worth $6,760,000 after purchasing an additional 90,428 shares during the last quarter. Finally, Goldentree Asset Management LP purchased a new position in Berry Global Group during the third quarter worth about $24,288,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup reissued a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. 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 note on Wednesday, November 20th. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Finally, Royal Bank of Canada upped their target price 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, November 21st. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.73.

Berry Global Group Stock Performance

NYSE:BERY opened at $71.28 on Tuesday. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $73.31. The company has a fifty day simple moving average of $68.69 and a two-hundred day simple moving average of $64.93. The company has a quick ratio of 0.26, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.31 per share. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.74%. Berry Global Group’s dividend payout ratio is 28.25%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group 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 sale, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.00% of the stock is owned by corporate insiders.

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.