Verition Fund Management LLC Buys 98,564 Shares of Berry Global Group, Inc. (NYSE:BERY)

Verition Fund Management LLC lifted its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 1,664.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,485 shares of the industrial products company’s stock after buying an additional 98,564 shares during the period. Verition Fund Management LLC owned about 0.09% of Berry Global Group worth $7,103,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BERY. EdgePoint Investment Group Inc. raised its holdings in Berry Global Group by 10.3% during the 2nd 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 last quarter. FMR LLC lifted its holdings in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP boosted its position in Berry Global Group by 30.3% during the second 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 last quarter. Allspring Global Investments Holdings LLC grew its holdings in Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after acquiring an additional 588,114 shares during the period. Finally, Eminence Capital LP raised its position 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 worth $159,751,000 after acquiring an additional 492,793 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Up 1.0 %

Shares of NYSE:BERY opened at $72.31 on Monday. The business’s 50 day moving average is $68.62 and its 200 day moving average is $64.86. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $73.31. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.44 and a beta of 1.14. The company has a quick ratio of 0.26, a current ratio of 1.25 and a debt-to-equity ratio of 2.08.

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 issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.71%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. Berry Global Group’s payout ratio is currently 25.06%.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the business’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. The trade was a 31.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BERY shares. Citigroup reaffirmed a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. 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 note on Friday, November 22nd. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. Finally, Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently 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.