21,922 Shares in Berry Global Group, Inc. (NYSE:BERY) Bought by ARGA Investment Management LP

ARGA Investment Management LP bought a new stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 21,922 shares of the industrial products company's stock, valued at approximately $1,490,000.

A number of other institutional investors and hedge funds have also modified their holdings of BERY. EdgePoint Investment Group Inc. raised 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 valued at $879,391,000 after purchasing an additional 1,393,955 shares during the last quarter. FMR LLC grew its position in Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP raised 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 buying an additional 807,211 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $46,968,000 after buying an additional 588,114 shares during the period. Finally, Eminence Capital LP lifted its holdings in shares of Berry Global Group by 22.2% during 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 buying an additional 492,793 shares during the period. Institutional investors own 95.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BERY. Truist Financial reiterated a "hold" rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. 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 research report on Wednesday. UBS Group downgraded shares of Berry Global Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $82.00 to $75.00 in a report on Friday, November 22nd. Royal Bank of Canada upped their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a report on Thursday, November 21st. Finally, Citigroup reiterated a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of "Hold" and an average target price of $73.73.

Insider Activity at Berry Global Group

In other 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 completion of the transaction, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by corporate insiders.

Berry Global Group Price Performance

BERY stock traded up $0.74 during trading on Friday, reaching $72.31. The company's stock had a trading volume of 1,418,906 shares, compared to its average volume of 2,185,147. The company has a quick ratio of 0.26, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company's fifty day moving average is $68.62 and its 200-day moving average is $64.86. The company has a market capitalization of $8.33 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $73.31.

Berry Global Group Increases Dividend

The firm 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 dividend of $0.31 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.71%. This is a boost from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's dividend payout ratio (DPR) is currently 25.06%.

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.