Consolidated Investment Group LLC Sells 40,100 Shares of Berry Global Group, Inc. (NYSE:BERY)

Consolidated Investment Group LLC lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 40.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,900 shares of the industrial products company’s stock after selling 40,100 shares during the quarter. Consolidated Investment Group LLC owned about 0.05% of Berry Global Group worth $3,809,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BERY. UMB Bank n.a. boosted its holdings in Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 306 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Berry Global Group during the third quarter worth approximately $75,000. GAMMA Investing LLC lifted its holdings in shares of Berry Global Group by 332.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 908 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Berry Global Group in the 3rd quarter valued at $152,000. Finally, Merit Financial Group LLC bought a new stake in Berry Global Group during the 4th quarter valued at $200,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $68.25 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The stock has a market cap of $7.90 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The stock has a fifty day moving average of $67.60 and a 200-day moving average of $66.84.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.82%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 28.25%.

Analyst Upgrades and Downgrades

BERY has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. 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. Truist Financial boosted their price objective on Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Royal Bank of Canada raised their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, StockNews.com began coverage on Berry Global Group in a report on Monday, January 20th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.30.

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.