Two Sigma Advisers LP Purchases 37,400 Shares of Berry Global Group, Inc. (NYSE:BERY)

Two Sigma Advisers LP increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 14.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 294,800 shares of the industrial products company’s stock after acquiring an additional 37,400 shares during the period. Two Sigma Advisers LP owned about 0.26% of Berry Global Group worth $20,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Investment Consultants LLC bought a new stake in Berry Global Group during the 3rd quarter worth $714,000. Hancock Whitney Corp bought a new stake in shares of Berry Global Group in the 3rd quarter valued at about $1,065,000. Allspring Global Investments Holdings LLC grew its position in shares of Berry Global Group by 4.7% in 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 buying an additional 37,242 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Berry Global Group by 370.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock valued at $6,760,000 after buying an additional 90,428 shares during the last quarter. Finally, Goldentree Asset Management LP bought a new stake in shares of Berry Global Group in the 3rd quarter valued at about $24,288,000. Institutional investors own 95.36% of the company’s stock.

Insiders Place Their Bets

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 transaction, the director now owns 30,228 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Stock Down 0.2 %

Shares of NYSE:BERY opened at $69.65 on Monday. The business’s 50 day simple moving average is $68.84 and its two-hundred day simple moving average is $65.21. The firm has a market cap of $8.02 billion, a P/E ratio of 15.87, a PEG ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $73.31.

Berry Global Group Increases Dividend

The company 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 $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.78%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is presently 28.25%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group lowered 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 research report on Friday, November 22nd. StockNews.com began coverage on Berry Global Group in a research report on Tuesday, December 3rd. They set a “buy” rating on the stock. Royal Bank of Canada upped their target price on 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. Finally, Citigroup restated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.73.

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.