Principal Financial Group Inc. Cuts Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Principal Financial Group Inc. lessened its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,354 shares of the industrial products company’s stock after selling 115,710 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Berry Global Group worth $18,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BERY. EdgePoint Investment Group Inc. boosted its holdings in Berry Global Group by 10.3% in the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after acquiring an additional 1,393,955 shares in the last quarter. Vanguard Group Inc. boosted its stake in Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after purchasing an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Berry Global Group by 30.3% during the 2nd 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 during the last quarter. Eminence Capital LP increased its stake in Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of Berry Global Group by 18.7% in the first quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company’s stock worth $102,886,000 after buying an additional 267,413 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BERY. StockNews.com started coverage on shares of Berry Global Group in a report on Thursday, November 7th. They set a “hold” rating on the stock. Truist Financial increased their price objective on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.22.

Insider Activity

In other 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 directly owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Berry Global Group Stock Down 1.0 %

Berry Global Group stock opened at $66.33 on Friday. The business’s 50-day moving average price is $67.90 and its 200 day moving average price is $63.97. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.12 and a beta of 1.14. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $71.63.

Berry Global Group Increases Dividend

The company 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 is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. Berry Global Group’s dividend payout ratio (DPR) is presently 23.50%.

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.