Pathstone Holdings LLC Trims Holdings in Berry Global Group, Inc. (NYSE:BERY)

Pathstone Holdings LLC reduced its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,552 shares of the industrial products company’s stock after selling 3,061 shares during the period. Pathstone Holdings LLC’s holdings in Berry Global Group were worth $2,349,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BERY. Quest Partners LLC boosted its stake in shares of Berry Global Group by 1,478.0% during the third quarter. Quest Partners LLC now owns 8,663 shares of the industrial products company’s stock worth $589,000 after buying an additional 8,114 shares during the period. Chesapeake Capital Corp IL acquired a new stake in Berry Global Group during the 3rd quarter worth approximately $647,000. CIBC Asset Management Inc acquired a new stake in Berry Global Group during the 3rd quarter worth approximately $229,000. Oppenheimer Asset Management Inc. grew its stake in shares of Berry Global Group by 0.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 113,914 shares of the industrial products company’s stock valued at $7,744,000 after purchasing an additional 445 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Berry Global Group by 36.3% in the third quarter. Victory Capital Management Inc. now owns 95,281 shares of the industrial products company’s stock valued at $6,477,000 after purchasing an additional 25,382 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BERY. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $82.00 to $75.00 in a research report on Friday. Citigroup reiterated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday. 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 objective for the company. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $72.73.

Berry Global Group Stock Performance

NYSE:BERY opened at $71.55 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $8.20 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. The firm has a 50-day moving average price of $68.22 and a two-hundred day moving average price of $64.44. Berry Global Group, Inc. has a twelve month low of $54.06 and a twelve month high of $73.31.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.31 per share. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Monday, December 2nd. Berry Global Group’s payout ratio is currently 25.06%.

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.