Swiss National Bank Trims Holdings in Berry Global Group, Inc. (NYSE:BERY)

Swiss National Bank lessened its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,418 shares of the industrial products company’s stock after selling 4,600 shares during the period. Swiss National Bank’s holdings in Berry Global Group were worth $15,188,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BERY. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group during the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its holdings in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 548 shares during the period. LRI Investments LLC grew its holdings in shares of 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 position in shares of Berry Global Group during the 2nd quarter worth approximately $42,000. Finally, American Capital Advisory LLC purchased a new position in shares of Berry Global Group during the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. UBS Group downgraded Berry Global Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $82.00 to $75.00 in a report on Friday. Royal Bank of Canada upped their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Finally, Truist Financial reissued a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and three have assigned 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 $72.00.

Berry Global Group Stock Performance

BERY stock opened at $71.69 on Friday. The stock has a market capitalization of $8.22 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $72.50. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The stock’s 50 day simple moving average is $68.09 and its 200 day simple moving average is $64.32.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.73%. Berry Global Group’s dividend payout ratio is 25.06%.

Insider Activity at Berry Global Group

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

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.