Consolidated Investment Group LLC Sells 40,100 Shares of Berry Global Group, Inc. (NYSE:BERY)

Consolidated Investment Group LLC reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 40.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 58,900 shares of the industrial products company’s stock after selling 40,100 shares during the quarter. Consolidated Investment Group LLC’s holdings in Berry Global Group were worth $3,809,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in shares of Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Berry Global Group in the 3rd quarter worth $75,000. GAMMA Investing LLC raised its position in Berry Global Group by 332.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 908 shares during the period. SG Americas Securities LLC bought a new stake in Berry Global Group in the third quarter worth $152,000. Finally, Merit Financial Group LLC purchased a new stake in Berry Global Group during the fourth quarter valued at about $200,000. 95.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BERY shares. Royal Bank of Canada raised 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, November 21st. Citigroup restated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Truist Financial upped their target price on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average price target of $73.30.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $68.25 on Friday. The business has a fifty day simple moving average of $67.60 and a two-hundred day simple moving average of $66.84. The firm has a market capitalization of $7.90 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.44 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.82%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is presently 28.25%.

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.