Eagle Asset Management Inc. Boosts Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Eagle Asset Management Inc. grew its holdings in Berry Global Group, Inc. (NYSE:BERY) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,222 shares of the industrial products company’s stock after purchasing an additional 24,784 shares during the period. Eagle Asset Management Inc.’s holdings in Berry Global Group were worth $13,271,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in Berry Global Group during the 2nd quarter valued at about $27,000. Quest Partners LLC grew its stake in Berry Global Group by 54,800.0% during the second 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 increased its holdings in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group in the 2nd quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group in the 2nd quarter valued at $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BERY has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $82.00 to $75.00 in a research report on Friday. Morgan Stanley started coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Truist Financial reissued a “hold” rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday. Finally, StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Trading Up 1.1 %

NYSE BERY opened at $71.71 on Friday. The firm has a market cap of $8.22 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $72.50. The stock has a 50-day moving average of $68.22 and a 200-day moving average of $64.40. The company has a current ratio of 0.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The business 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 dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date 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 is 25.06%.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

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.