Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in Berry Global Group, Inc. (NYSE:BERY) by 77.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,710 shares of the industrial products company’s stock after selling 133,705 shares during the period. Thrivent Financial for Lutherans’ holdings in Berry Global Group were worth $2,631,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its position in shares of 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 buying an additional 1,934,137 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 valued at $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Berry Global Group by 280.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after purchasing an additional 588,114 shares during the last quarter. Eminence Capital LP increased its stake in shares of 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 worth $159,751,000 after purchasing an additional 492,793 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Berry Global Group during the 2nd quarter worth approximately $25,688,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Down 1.1 %

Shares of BERY opened at $70.73 on Wednesday. The firm has a market cap of $8.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.40 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. The company’s fifty day moving average is $68.30 and its two-hundred day moving average is $64.53. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31.

Berry Global Group Increases Dividend

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

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BERY. Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday. Finally, Royal Bank of Canada upped their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.73.

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.