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

Chesapeake Capital Corp IL acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,393 shares of the industrial products company’s stock, valued at approximately $647,000.

Several other hedge funds have also recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the second quarter valued at $27,000. Quest Partners LLC increased its stake in shares of Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC boosted its holdings in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Berry Global Group in the second quarter valued at about $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group in the second quarter valued at about $44,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.22.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’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 $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.00% of the company’s stock.

Berry Global Group Stock Up 0.7 %

Shares of Berry Global Group stock opened at $66.80 on Friday. The business’s 50 day simple moving average is $67.90 and its 200 day simple moving average is $64.08. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $71.63. The firm has a market cap of $7.66 billion, a PE ratio of 14.27, a P/E/G 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is 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 (DPR) is currently 23.50%.

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.