Wealth Enhancement Advisory Services LLC Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Wealth Enhancement Advisory Services LLC lifted its holdings in Berry Global Group, Inc. (NYSE:BERY) by 95.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,280 shares of the industrial products company’s stock after purchasing an additional 7,447 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Berry Global Group were worth $1,039,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. EdgePoint Investment Group Inc. increased its stake in Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after purchasing an additional 1,393,955 shares in the last quarter. Vanguard Group Inc. increased its stake in Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after purchasing an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Eminence Capital LP increased its stake in Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Berry Global Group by 18.7% during the 1st quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company’s stock valued at $102,886,000 after purchasing an additional 267,413 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group dropped their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.22.

Berry Global Group Stock Performance

BERY opened at $64.80 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.16 and a beta of 1.14. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $71.63. The firm’s fifty day simple moving average is $68.02 and its two-hundred day simple moving average is $63.55.

Berry Global Group Increases Dividend

The business also recently disclosed 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 represents a $1.24 annualized dividend and a yield of 1.91%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. Berry Global Group’s dividend payout ratio (DPR) is presently 23.50%.

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 on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

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.