Hancock Whitney Corp Takes $1.07 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Hancock Whitney Corp acquired a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,672 shares of the industrial products company’s stock, valued at approximately $1,065,000.

A number of other hedge funds have also added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. raised its holdings in Berry Global Group by 16.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after purchasing an additional 1,934,137 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC lifted 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 valued at $46,968,000 after buying an additional 588,114 shares in the last quarter. Eminence Capital LP boosted its holdings in Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Berry Global Group in the 2nd quarter worth $25,688,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 1.1 %

NYSE BERY opened at $70.73 on Wednesday. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The company’s 50-day moving average price is $68.30 and its 200-day moving average price is $64.53. The stock has a market cap of $8.11 billion, a PE ratio of 16.11, a PEG ratio of 1.40 and a beta of 1.14. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 25.06%.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research note on Monday. Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $82.00 to $75.00 in a report on Friday, November 22nd. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Finally, StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $72.73.

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.