Captrust Financial Advisors Sells 65,270 Shares of Berry Global Group, Inc. (NYSE:BERY)

Captrust Financial Advisors cut its stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 92.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,465 shares of the industrial products company's stock after selling 65,270 shares during the quarter. Captrust Financial Advisors' holdings in Berry Global Group were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BERY. Vanguard Personalized Indexing Management LLC lifted its position in shares of Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company's stock valued at $555,000 after acquiring an additional 176 shares in the last quarter. Creative Planning raised its stake in Berry Global Group by 3.0% during the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock valued at $464,000 after purchasing an additional 198 shares during the period. Guardian Wealth Management Inc. lifted its holdings in Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company's stock worth $1,743,000 after purchasing an additional 287 shares in the last quarter. US Bancorp DE boosted its stake in Berry Global Group by 9.1% in the 3rd quarter. US Bancorp DE now owns 3,725 shares of the industrial products company's stock worth $253,000 after purchasing an additional 311 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Berry Global Group by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company's stock valued at $240,000 after buying an additional 355 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.00% of the company's stock.

Berry Global Group Trading Down 1.0 %

Shares of Berry Global Group stock traded down $0.72 on Friday, reaching $67.94. The company had a trading volume of 1,287,716 shares, compared to its average volume of 1,113,700. The firm's 50-day moving average price is $69.05 and its two-hundred day moving average price is $65.51. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $73.31. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80.

Berry Global Group Increases Dividend

The company also recently disclosed 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 is a boost from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. Berry Global Group's payout ratio is 28.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BERY. Citigroup reissued a "neutral" rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price target on the stock. Royal Bank of Canada raised their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. Truist Financial reiterated a "hold" rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, UBS Group cut Berry Global Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group presently has an average rating of "Hold" and a consensus target price of $73.73.

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.