Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 8.6% in the 3rd quarter, Holdings Channel reports. The firm owned 212,120 shares of the industrial products company’s stock after selling 19,971 shares during the period. Citigroup Inc.’s holdings in Berry Global Group were worth $14,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares in the last quarter. LRI Investments LLC lifted its position in shares of Berry Global Group by 1,309.1% in the 2nd 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 in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group in the 2nd quarter valued at approximately $42,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Berry Global Group in the 2nd quarter valued at approximately $44,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.00% of the stock is currently owned by company insiders.

Berry Global Group Stock Performance

Shares of BERY opened at $71.57 on Thursday. The company’s fifty day moving average is $68.37 and its 200-day moving average is $64.60. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The firm 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 is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio is 25.06%.

Wall Street Analysts Forecast Growth

BERY has been the subject of several research analyst reports. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday. Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research report on Monday. Royal Bank of Canada increased their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Finally, Barclays increased their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and an average target price of $73.73.

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.