Amalgamated Bank Sells 17,238 Shares of Berry Global Group, Inc. (NYSE:BERY)

Amalgamated Bank cut its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,712 shares of the industrial products company's stock after selling 17,238 shares during the quarter. Amalgamated Bank's holdings in Berry Global Group were worth $3,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. raised its position in shares of Berry Global Group by 14.7% in the third quarter. QRG Capital Management Inc. now owns 8,979 shares of the industrial products company's stock valued at $610,000 after purchasing an additional 1,151 shares during the period. US Bancorp DE raised its holdings in Berry Global Group by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 311 shares during the period. New York State Teachers Retirement System raised its holdings in Berry Global Group by 4.5% during the 3rd quarter. New York State Teachers Retirement System now owns 79,849 shares of the industrial products company's stock valued at $5,428,000 after acquiring an additional 3,440 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of Berry Global Group during the third quarter worth $278,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Berry Global Group in the third quarter worth $403,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Berry Global Group Price Performance

BERY stock traded up $0.01 during midday trading on Friday, reaching $67.29. The company had a trading volume of 724,313 shares, compared to its average volume of 881,587. The firm has a 50-day moving average price of $67.97 and a 200-day moving average price of $63.77. The company has a market capitalization of $7.71 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.10 and a beta of 1.14. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $71.63. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given 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 annualized dividend and a yield of 1.84%. Berry Global Group's payout ratio is 23.50%.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm's stock in a transaction dated 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 directly owns 30,228 shares of the company's stock, valued at approximately $2,119,889.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group decreased their price objective on Berry Global Group from $89.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 price target on the stock. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Thursday. They issued a "hold" rating for the company. Finally, Truist Financial upped their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $71.22.

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.