Tidal Investments LLC Buys 13,004 Shares of Berry Global Group, Inc. (NYSE:BERY)

Tidal Investments LLC boosted its stake in Berry Global Group, Inc. (NYSE:BERY) by 71.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,325 shares of the industrial products company’s stock after purchasing an additional 13,004 shares during the quarter. Tidal Investments LLC’s holdings in Berry Global Group were worth $2,129,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Berry Global Group in the third quarter valued at approximately $463,000. Sanctuary Advisors LLC bought a new stake in shares of Berry Global Group in the 3rd quarter valued at $389,000. Hohimer Wealth Management LLC acquired a new stake in Berry Global Group during the 3rd quarter worth $367,000. TD Private Client Wealth LLC lifted its holdings in Berry Global Group by 5,508.3% during the third quarter. TD Private Client Wealth LLC now owns 8,132 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 7,987 shares in the last quarter. Finally, Neo Ivy Capital Management grew 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 valued at $2,402,000 after acquiring an additional 21,722 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the firm’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 value of $981,820.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $82.00 to $75.00 in a report on Friday, November 22nd. StockNews.com assumed coverage on shares of Berry Global Group in a report on Wednesday, December 11th. They set a “buy” rating on the stock. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Finally, Truist Financial restated a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.73.

Berry Global Group Trading Down 0.5 %

NYSE BERY opened at $67.61 on Tuesday. The company has a market cap of $7.79 billion, a PE ratio of 15.40, a PEG ratio of 1.38 and a beta of 1.14. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The stock has a 50 day moving average of $69.07 and a 200-day moving average of $65.63. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

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.