Hancock Whitney Corp Acquires Shares of 15,672 Berry Global Group, Inc. (NYSE:BERY)

Hancock Whitney Corp purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,672 shares of the industrial products company's stock, valued at approximately $1,065,000.

A number of other hedge funds also recently bought and sold shares of BERY. Cerity Partners LLC lifted its stake in shares of Berry Global Group by 171.2% in the third quarter. Cerity Partners LLC now owns 14,316 shares of the industrial products company's stock valued at $973,000 after buying an additional 9,037 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Berry Global Group in the third quarter valued at about $408,000. Eagle Asset Management Inc. lifted its stake in shares of Berry Global Group by 14.4% in the third quarter. Eagle Asset Management Inc. now owns 197,222 shares of the industrial products company's stock valued at $13,271,000 after buying an additional 24,784 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Berry Global Group by 2.3% in the third 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 during the period. Finally, Integrated Investment Consultants LLC bought a new stake in shares of Berry Global Group in the third quarter valued at about $714,000. 95.36% of the stock is currently owned by institutional investors.

Insider Activity at Berry Global Group

In other Berry Global Group 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 transaction, the director now directly owns 30,228 shares of the company's stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BERY shares. Truist Financial reiterated a "hold" rating and issued a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Morgan Stanley started coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price target for the company. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday. Royal Bank of Canada increased their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 21st. Finally, Barclays increased 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 report on Wednesday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $73.73.

Berry Global Group Price Performance

Shares of Berry Global Group stock traded up $0.84 during midday trading on Wednesday, reaching $71.57. The company had a trading volume of 2,053,625 shares, compared to its average volume of 1,091,444. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The stock has a fifty day simple moving average of $68.37 and a 200 day simple moving average of $64.60. 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 1.73%. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's dividend payout ratio (DPR) is currently 25.06%.

About Berry Global Group

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.