Assenagon Asset Management S.A. Makes New $2.87 Million Investment in Berry Global Group, Inc. (NYSE:BERY)

Assenagon Asset Management S.A. acquired a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 44,348 shares of the industrial products company's stock, valued at approximately $2,868,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Berry Global Group during the 3rd quarter valued at approximately $75,000. GAMMA Investing LLC raised its holdings in Berry Global Group by 332.6% during the third 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 last quarter. SG Americas Securities LLC purchased a new stake in Berry Global Group during the third quarter worth $152,000. Townsquare Capital LLC acquired a new stake in Berry Global Group in the third quarter valued at $201,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Berry Global Group in the third quarter valued at $206,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group decreased their price objective on shares of Berry Global Group from $75.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. reaffirmed 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. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Monday. They set a "buy" rating for the company. Royal Bank of Canada upped their target price on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research note on Thursday, November 21st. Finally, Citigroup reissued a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $73.30.

Berry Global Group Trading Down 0.5 %

NYSE:BERY traded down $0.37 during mid-day trading on Wednesday, reaching $68.09. The company's stock had a trading volume of 816,490 shares, compared to its average volume of 1,237,753. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The stock has a market cap of $7.88 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.43 and a beta of 1.16. The company's fifty day simple moving average is $67.53 and its two-hundred day simple moving average is $66.71. Berry Global Group, Inc. has a twelve month low of $54.06 and a twelve month high of $73.31.

Berry Global Group Increases Dividend

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

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.