Quest Partners LLC Raises Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Quest Partners LLC boosted its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 1,478.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,663 shares of the industrial products company’s stock after acquiring an additional 8,114 shares during the quarter. Quest Partners LLC’s holdings in Berry Global Group were worth $589,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. lifted its holdings in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after purchasing an additional 1,393,955 shares during the period. Dimensional Fund Advisors LP lifted 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 acquiring an additional 807,211 shares during the period. Eminence Capital LP boosted its holdings in shares of Berry Global Group by 22.2% in 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 acquiring an additional 492,793 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Berry Global Group by 18.7% in the first quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company’s stock worth $102,886,000 after acquiring an additional 267,413 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Berry Global Group by 29.2% during the second quarter. AQR Capital Management LLC now owns 1,438,866 shares of the industrial products company’s stock worth $84,677,000 after purchasing an additional 325,562 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

BERY opened at $71.69 on Friday. The firm’s fifty day simple moving average is $68.09 and its two-hundred day simple moving average is $64.32. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $72.50. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 16.33, a PEG 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 Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BERY. Royal Bank of Canada increased their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Truist Financial restated a “hold” rating and issued a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday. Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Finally, UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $82.00 to $75.00 in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and an average price target of $72.00.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group 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 sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.

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.