Verition Fund Management LLC Buys 98,564 Shares of Berry Global Group, Inc. (NYSE:BERY)

Verition Fund Management LLC lifted its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 1,664.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,485 shares of the industrial products company's stock after acquiring an additional 98,564 shares during the quarter. Verition Fund Management LLC owned 0.09% of Berry Global Group worth $7,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Berry Global Group by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 89,114 shares of the industrial products company's stock valued at $5,390,000 after acquiring an additional 5,731 shares during the period. Tidal Investments LLC boosted its holdings in shares of Berry Global Group by 9.5% in the first quarter. Tidal Investments LLC now owns 15,890 shares of the industrial products company's stock worth $961,000 after buying an additional 1,372 shares during the last quarter. Comerica Bank grew its position in Berry Global Group by 3.4% during the first quarter. Comerica Bank now owns 91,867 shares of the industrial products company's stock valued at $5,556,000 after buying an additional 3,055 shares during the period. Cetera Advisors LLC grew its position in Berry Global Group by 24.9% during the first quarter. Cetera Advisors LLC now owns 10,026 shares of the industrial products company's stock valued at $606,000 after buying an additional 1,997 shares during the period. Finally, Quent Capital LLC increased its holdings in Berry Global Group by 46.6% during the second quarter. Quent Capital LLC now owns 9,603 shares of the industrial products company's stock valued at $565,000 after buying an additional 3,052 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BERY has been the subject of a number of recent research reports. UBS Group downgraded shares of Berry Global Group from a "buy" rating to a "neutral" rating and cut their price objective for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. Morgan Stanley initiated coverage on 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. Citigroup reaffirmed a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Truist Financial restated a "hold" rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Berry Global Group currently has an average rating of "Hold" and an average price target of $73.73.

Berry Global Group Price Performance

BERY traded down $0.72 during trading on Monday, hitting $71.28. 2,508,610 shares of the company traded hands, compared to its average volume of 1,098,963. The company has a market cap of $8.21 billion, a PE ratio of 16.24, a P/E/G ratio of 1.44 and a beta of 1.14. The stock's 50-day simple moving average is $68.69 and its two-hundred day simple moving average is $64.93. The company has a current ratio of 1.25, a quick ratio of 0.26 and a debt-to-equity ratio of 2.08. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.31 dividend. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.74%. Berry Global Group's payout ratio is presently 28.25%.

Insider Activity at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company'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 transaction, the director now owns 30,228 shares of the company's stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.00% of the stock is owned by insiders.

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.