Goldentree Asset Management LP Invests $24.29 Million in Berry Global Group, Inc. (NYSE:BERY)

Goldentree Asset Management LP purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 358,207 shares of the industrial products company’s stock, valued at approximately $24,288,000. Berry Global Group accounts for approximately 1.9% of Goldentree Asset Management LP’s portfolio, making the stock its 18th largest position. Goldentree Asset Management LP owned 0.31% of Berry Global Group at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Berry Global Group during the first quarter valued at approximately $691,000. Allspring Global Investments Holdings LLC increased its position in Berry Global Group by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after buying an additional 37,242 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in Berry Global Group during the 3rd quarter valued at approximately $714,000. Mercer Global Advisors Inc. ADV boosted its holdings in Berry Global Group by 370.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock worth $6,760,000 after acquiring an additional 90,428 shares in the last quarter. Finally, Hancock Whitney Corp bought a new stake in Berry Global Group in the third quarter worth $1,065,000. Institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

BERY has been the subject of several recent analyst reports. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Morgan Stanley assumed coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday. Finally, Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average price target of $73.73.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the company’s 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 completion of the sale, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Berry Global Group Stock Up 1.2 %

Berry Global Group stock opened at $71.57 on Friday. Berry Global Group, Inc. has a one year low of $54.06 and a one year high of $73.31. The stock has a fifty day moving average of $68.51 and a 200 day moving average of $64.70. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.26 and a current ratio of 1.25. The stock has a market cap of $8.24 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio is 25.06%.

Berry Global Group Company 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.