Holocene Advisors LP Sells 30,727 Shares of Berry Global Group, Inc. (NYSE:BERY)

Holocene Advisors LP trimmed its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 47.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,055 shares of the industrial products company's stock after selling 30,727 shares during the quarter. Holocene Advisors LP's holdings in Berry Global Group were worth $2,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Cetera Advisors LLC increased its stake in shares of Berry Global Group by 24.9% during the 1st quarter. Cetera Advisors LLC now owns 10,026 shares of the industrial products company's stock worth $606,000 after purchasing an additional 1,997 shares during the last quarter. QRG Capital Management Inc. raised its stake in Berry Global Group by 37.3% in the second quarter. QRG Capital Management Inc. now owns 7,828 shares of the industrial products company's stock valued at $461,000 after buying an additional 2,126 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Berry Global Group by 9.5% in the second 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 during the period. Blue Trust Inc. boosted its stake in shares of Berry Global Group by 68.8% during the 2nd quarter. Blue Trust Inc. now owns 1,536 shares of the industrial products company's stock worth $93,000 after acquiring an additional 626 shares during the period. Finally, Shayne & Jacobs LLC boosted its stake in shares of Berry Global Group by 2.0% during the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company's stock worth $1,075,000 after acquiring an additional 360 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Berry Global Group Price Performance

Shares of BERY traded down $0.12 during trading hours on Friday, hitting $69.65. 1,201,160 shares of the company were exchanged, compared to its average volume of 2,228,330. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.42 and a beta of 1.14. The firm's fifty day moving average is $68.84 and its 200 day moving average is $65.18. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 is a boost from Berry Global Group's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.78%. Berry Global Group's payout ratio is presently 28.25%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BERY. Truist Financial reaffirmed a "hold" rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Citigroup restated a "neutral" rating and set a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group lowered shares of Berry Global Group from a "buy" rating to a "neutral" rating and decreased their price target for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Barclays increased their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Finally, Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Berry Global Group has a consensus rating of "Hold" and a consensus target price of $73.73.

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.