Chesapeake Capital Corp IL Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Chesapeake Capital Corp IL purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,393 shares of the industrial products company’s stock, valued at approximately $647,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BERY. Sei Investments Co. boosted its stake in shares of Berry Global Group by 8.3% during the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after acquiring an additional 12,385 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 9,483 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after acquiring an additional 13,398 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Berry Global Group by 39.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company’s stock worth $1,162,000 after acquiring an additional 5,466 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after acquiring an additional 1,200,021 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Performance

NYSE:BERY opened at $66.80 on Friday. The stock has a fifty day moving average price of $67.90 and a 200-day moving average price of $64.08. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.10 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $71.63.

Berry Global Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. 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. Berry Global Group’s dividend payout ratio is presently 23.50%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BERY. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Truist Financial boosted their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.22.

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.