Chesapeake Capital Corp IL Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Chesapeake Capital Corp IL bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,393 shares of the industrial products company's stock, valued at approximately $647,000.

A number of other hedge funds also recently made changes to their positions in the business. EdgePoint Investment Group Inc. grew its position in shares of Berry Global Group by 10.3% during the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company's stock worth $782,070,000 after buying an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company's stock valued at $204,365,000 after purchasing an additional 807,211 shares during the last quarter. Eminence Capital LP boosted its stake 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 worth $159,751,000 after acquiring an additional 492,793 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Berry Global Group by 18.7% in the first quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company's stock worth $102,886,000 after purchasing an additional 267,413 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company's stock.

Berry Global Group Stock Up 0.7 %

BERY traded up $0.47 on Friday, reaching $66.80. The company's stock had a trading volume of 845,608 shares, compared to its average volume of 905,555. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. The business's 50 day moving average is $67.90 and its 200 day moving average is $64.13. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $71.63.

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 given a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's payout ratio is currently 23.50%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BERY. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price objective for the company. Truist Financial increased their target price on Berry Global Group from $68.00 to $74.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Berry Global Group from a "hold" rating to a "buy" rating in a research note on Friday. Seven research 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.com, the company presently has an average rating of "Hold" and a consensus price target of $71.22.

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.