Neo Ivy Capital Management Acquires 21,722 Shares of Berry Global Group, Inc. (NYSE:BERY)

Neo Ivy Capital Management lifted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 159.7% in the third quarter, Holdings Channel.com reports. The fund owned 35,322 shares of the industrial products company’s stock after purchasing an additional 21,722 shares during the period. Neo Ivy Capital Management’s holdings in Berry Global Group were worth $2,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. raised its holdings in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after acquiring an additional 1,393,955 shares in the last quarter. FMR LLC raised its holdings in shares of Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Berry Global Group by 280.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after purchasing an additional 588,114 shares during the period. Finally, Eminence Capital LP grew its stake in Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares during the period. Institutional investors own 95.36% of the company’s stock.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Trading Down 0.3 %

Shares of NYSE:BERY opened at $69.45 on Wednesday. The company has a market cap of $8.00 billion, a P/E ratio of 15.82, a PEG ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $73.31. The stock’s fifty day moving average price is $68.93 and its 200-day moving average price is $65.36.

Berry Global Group Increases Dividend

The firm also recently declared 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 is an increase 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 1.79%. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s dividend payout ratio is presently 28.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BERY shares. Barclays upped their price target on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Citigroup reissued a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Finally, StockNews.com started coverage on Berry Global Group in a research note on Wednesday. They issued a “buy” rating on the stock. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target 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.