Cerity Partners LLC Boosts Holdings in Berry Global Group, Inc. (NYSE:BERY)

Cerity Partners LLC raised its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 171.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,316 shares of the industrial products company's stock after buying an additional 9,037 shares during the quarter. Cerity Partners LLC's holdings in Berry Global Group were worth $973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BERY. Raymond James Trust N.A. bought a new position in Berry Global Group in the third quarter valued at $408,000. Eagle Asset Management Inc. increased its position in shares of Berry Global Group by 14.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 197,222 shares of the industrial products company's stock valued at $13,271,000 after purchasing an additional 24,784 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Berry Global Group by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 835,915 shares of the industrial products company's stock valued at $56,826,000 after buying an additional 18,736 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in Berry Global Group in the 3rd quarter worth approximately $714,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Berry Global Group by 2.4% in the third quarter. EverSource Wealth Advisors LLC now owns 28,927 shares of the industrial products company's stock worth $1,966,000 after buying an additional 666 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

BERY traded down $1.19 during mid-day trading on Thursday, reaching $69.77. 1,500,201 shares of the company traded hands, compared to its average volume of 1,102,938. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $73.31. The company's fifty day moving average price is $68.81 and its 200-day moving average price is $65.05. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $8.04 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.42 and a beta of 1.14.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's payout ratio is currently 28.25%.

Insider Buying and Selling

In other 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 completion of the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays lifted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. UBS Group downgraded shares of Berry Global Group from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada boosted 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, StockNews.com started coverage on Berry Global Group in a research report on Tuesday. They set a "buy" rating on the stock. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.