Berry Global Group, Inc. (NYSE:BERY) Stock Position Lessened by Sasco Capital Inc. CT

Sasco Capital Inc. CT decreased its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,400 shares of the industrial products company's stock after selling 59,010 shares during the quarter. Berry Global Group accounts for approximately 3.6% of Sasco Capital Inc. CT's portfolio, making the stock its 6th largest holding. Sasco Capital Inc. CT owned 0.31% of Berry Global Group worth $24,228,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company's stock valued at $2,271,000 after purchasing an additional 9,483 shares during the period. Virtu Financial LLC acquired a new stake in Berry Global Group in the 1st quarter valued at $691,000. BOKF NA increased its holdings in Berry Global Group by 26.3% in the 1st quarter. BOKF NA now owns 79,330 shares of the industrial products company's stock worth $4,809,000 after acquiring an additional 16,497 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company's stock valued at $782,070,000 after purchasing an additional 1,200,021 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Berry Global Group by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company's stock valued at $56,786,000 after purchasing an additional 37,242 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 1.6 %

Shares of NYSE:BERY traded down $1.04 during midday trading on Tuesday, reaching $66.01. 11,279,153 shares of the company's stock were exchanged, compared to its average volume of 1,031,168. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.10 and a beta of 1.14. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $72.50. The firm's 50 day simple moving average is $67.90 and its two-hundred day simple 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 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 dividend of $0.31 per share. 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 dividend on an annualized basis and a dividend yield of 1.88%. Berry Global Group's dividend payout ratio (DPR) is currently 23.50%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BERY. Truist Financial raised 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. Morgan Stanley began coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 target price for the company. Finally, StockNews.com raised shares of Berry Global Group from a "hold" rating to a "buy" rating in a research note on Friday. Seven equities research 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 currently has an average rating of "Hold" and a consensus price target of $71.22.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the company'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 transaction of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company's stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company's stock.

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.