Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Berry Global Group, Inc. (NYSE:BERY) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,212 shares of the industrial products company’s stock after selling 1,985 shares during the period. Retirement Systems of Alabama’s holdings in Berry Global Group were worth $9,464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new position in Berry Global Group during the second quarter worth approximately $27,000. Quest Partners LLC raised its position in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after buying an additional 548 shares during the period. LRI Investments LLC boosted its holdings in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group during the second quarter valued at about $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group during the second quarter worth about $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now 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 filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial reaffirmed a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Royal Bank of Canada boosted 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, November 21st. Citigroup reissued a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Stock Performance

Shares of BERY opened at $67.61 on Tuesday. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The business’s 50 day moving average is $69.07 and its two-hundred day moving average is $65.63. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s dividend payout ratio 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.