Berry Global Group, Inc. (NYSE:BERY) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC cut its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 98.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,561 shares of the industrial products company's stock after selling 471,815 shares during the period. ArrowMark Colorado Holdings LLC's holdings in Berry Global Group were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BERY. EdgePoint Investment Group Inc. raised its holdings in 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 worth $879,391,000 after purchasing an additional 1,393,955 shares during the last quarter. FMR LLC increased its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company's stock worth $204,365,000 after buying an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 280.1% in 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 buying an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP grew its stake in 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 valued at $159,751,000 after acquiring an additional 492,793 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BERY shares. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price target on the stock. JPMorgan Chase & Co. reissued an "overweight" rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays boosted their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Tuesday. They issued a "buy" rating for the company. Finally, Truist Financial restated a "hold" rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $73.73.

Berry Global Group Trading Up 0.8 %

BERY stock traded up $0.58 on Tuesday, hitting $71.85. 329,248 shares of the company were exchanged, compared to its average volume of 1,095,617. 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 capitalization of $8.28 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Berry Global Group, Inc. has a twelve month low of $54.06 and a twelve month high of $73.31. The business's fifty day moving average is $68.69 and its two-hundred day moving average is $64.93.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, December 2nd. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's payout ratio is 25.06%.

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.