Two Sigma Advisers LP Boosts Stake in Berry Global Group, Inc. (NYSE:BERY)

Two Sigma Advisers LP lifted its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 294,800 shares of the industrial products company's stock after purchasing an additional 37,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.26% of Berry Global Group worth $20,041,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BERY. Integrated Investment Consultants LLC purchased a new position in shares of Berry Global Group during the third quarter worth approximately $714,000. Hancock Whitney Corp acquired a new stake in Berry Global Group during the 3rd quarter worth $1,065,000. Allspring Global Investments Holdings LLC grew its position in Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company's stock worth $56,786,000 after purchasing an additional 37,242 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Berry Global Group by 370.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company's stock valued at $6,760,000 after purchasing an additional 90,428 shares during the period. Finally, Goldentree Asset Management LP purchased a new stake in shares of Berry Global Group in the third quarter valued at about $24,288,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Berry Global Group Price Performance

Shares of NYSE BERY traded up $0.02 during midday trading on Monday, hitting $69.67. The company had a trading volume of 1,221,287 shares, compared to its average volume of 1,103,851. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Berry Global Group, Inc. has a twelve month low of $54.06 and a twelve month high of $73.31. The business has a 50-day simple moving average of $68.84 and a two-hundred day simple moving average of $65.21. 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.78%. Berry Global Group's payout ratio is 28.25%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 price target for the company. Barclays increased their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Citigroup reissued a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Finally, StockNews.com assumed coverage on shares of Berry Global Group in a research report on Tuesday, December 3rd. They set a "buy" rating for the company. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $73.73.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the sale, the director now directly owns 30,228 shares in the company, valued at $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 available at 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.