Segall Bryant & Hamill LLC Decreases Stake in Berry Global Group, Inc. (NYSE:BERY)

Segall Bryant & Hamill LLC lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 20.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 158,984 shares of the industrial products company’s stock after selling 40,941 shares during the period. Segall Bryant & Hamill LLC’s holdings in Berry Global Group were worth $10,808,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 9,483 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Berry Global Group by 39.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company’s stock worth $1,162,000 after purchasing an additional 5,466 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 1,200,021 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Berry Global Group by 49.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 37,268 shares of the industrial products company’s stock valued at $2,254,000 after buying an additional 12,295 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in Berry Global Group during the first quarter valued at approximately $100,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $70.93 on Friday. The firm has a market capitalization of $8.13 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.09 and a beta of 1.14. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $72.50. The firm’s 50 day moving average is $67.99 and its two-hundred day moving average is $64.27.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.75%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 25.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday. Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial reissued a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a report on Wednesday. Finally, StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.22.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

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.