Neo Ivy Capital Management Has $2.40 Million Holdings in Berry Global Group, Inc. (NYSE:BERY)

Neo Ivy Capital Management raised its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 159.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,322 shares of the industrial products company's stock after purchasing an additional 21,722 shares during the quarter. Neo Ivy Capital Management's holdings in Berry Global Group were worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in shares of Berry Global Group by 37.3% during the second quarter. QRG Capital Management Inc. now owns 7,828 shares of the industrial products company's stock valued at $461,000 after acquiring an additional 2,126 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of 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 purchasing an additional 355 shares during the period. Blue Trust Inc. grew its position in Berry Global Group by 68.8% during the second quarter. Blue Trust Inc. now owns 1,536 shares of the industrial products company's stock valued at $93,000 after purchasing an additional 626 shares in the last quarter. Shayne & Jacobs LLC lifted its position in Berry Global Group by 2.0% in the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company's stock worth $1,075,000 after buying an additional 360 shares in the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Berry Global Group during the 2nd quarter valued at $1,481,000. Institutional investors own 95.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BERY. StockNews.com began coverage on Berry Global Group in a research note on Wednesday. They issued a "buy" rating for the company. 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 note on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial reissued a "hold" rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, Citigroup reiterated a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Nine investment 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.com, the company currently has a consensus rating of "Hold" and an average price target of $73.73.

Insider Activity

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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is currently owned by company insiders.

Berry Global Group Stock Performance

Shares of NYSE:BERY traded down $0.58 on Wednesday, hitting $68.86. 665,624 shares of the company were exchanged, compared to its average volume of 1,106,080. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The company's 50 day moving average price is $68.93 and its two-hundred day moving average price is $65.36. Berry Global Group, Inc. has a one year low of $54.06 and a one year high of $73.31. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.39 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 1.80%. 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 dividend payout ratio (DPR) is presently 28.25%.

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.