Edgestream Partners L.P. Buys 33,300 Shares of Berry Global Group, Inc. (NYSE:BERY)

Edgestream Partners L.P. raised its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 437.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,919 shares of the industrial products company's stock after acquiring an additional 33,300 shares during the period. Edgestream Partners L.P.'s holdings in Berry Global Group were worth $2,782,000 at the end of the most recent quarter.

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

Berry Global Group Price Performance

Shares of BERY traded down $0.72 during mid-day trading on Monday, reaching $71.28. The company had a trading volume of 2,508,610 shares, compared to its average volume of 1,098,963. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.44 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.26 and a current ratio of 1.25. The company's 50 day simple moving average is $68.69 and its 200 day simple moving average is $64.93. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $73.31.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group's dividend payout ratio is presently 28.25%.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm'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 value 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 position. The sale 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 company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BERY. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price target for the company. UBS Group lowered Berry Global Group from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a report on Thursday, November 21st. Finally, StockNews.com upgraded Berry Global Group from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $73.73.

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.