Barclays PLC Raises Stake in Berry Global Group, Inc. (NYSE:BERY)

Barclays PLC raised its position in Berry Global Group, Inc. (NYSE:BERY) by 87.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,956 shares of the industrial products company’s stock after purchasing an additional 47,476 shares during the period. Barclays PLC owned 0.09% of Berry Global Group worth $6,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hancock Whitney Corp purchased a new position in Berry Global Group in the third quarter valued at $1,065,000. Integrated Investment Consultants LLC acquired a new position in shares of Berry Global Group during the 3rd quarter worth about $714,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Berry Global Group by 4.7% in 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 acquiring an additional 37,242 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Berry Global Group by 370.0% during the 2nd 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, Goldentree Asset Management LP purchased a new stake in Berry Global Group during the third quarter worth approximately $24,288,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Down 3.0 %

BERY stock opened at $64.66 on Thursday. Berry Global Group, Inc. has a one year low of $54.06 and a one year high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The company has a fifty day moving average of $69.08 and a 200-day moving average of $65.67. The stock has a market capitalization of $7.45 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is currently 28.25%.

Analyst Ratings Changes

BERY has been the topic of several recent analyst reports. UBS Group lowered shares of 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 note on Friday, November 22nd. Citigroup reiterated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada lifted their target price on 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 upped their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average price target of $73.40.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.

Berry Global Group 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.