Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Synovus Financial Corp

Synovus Financial Corp decreased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 25.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,431 shares of the industrial products company’s stock after selling 2,552 shares during the period. Synovus Financial Corp’s holdings in Berry Global Group were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BERY. EdgePoint Investment Group Inc. boosted its stake in shares of Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after acquiring an additional 1,393,955 shares in the last quarter. FMR LLC boosted its stake in shares of Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Berry Global Group by 30.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after acquiring an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after acquiring an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP boosted its stake in shares of Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after acquiring an additional 492,793 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BERY shares. Royal Bank of Canada boosted their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial reaffirmed a “hold” rating and issued a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $73.73.

Berry Global Group Trading Down 1.4 %

Shares of Berry Global Group stock opened at $66.66 on Wednesday. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The firm has a market cap of $7.68 billion, a PE ratio of 15.18, a P/E/G ratio of 1.38 and a beta of 1.14. The business’s fifty day moving average is $69.07 and its two-hundred day moving average is $65.63. 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 firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is currently 28.25%.

Insiders Place Their Bets

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 $2,119,889.64. This represents a 31.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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.