Principal Financial Group Inc. Decreases Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Principal Financial Group Inc. lessened its stake in Berry Global Group, Inc. (NYSE:BERY) by 30.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 265,354 shares of the industrial products company’s stock after selling 115,710 shares during the quarter. Principal Financial Group Inc.’s holdings in Berry Global Group were worth $18,039,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the second quarter valued at about $27,000. Quest Partners LLC lifted its stake in Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC boosted its holdings in Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after buying an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group in the 2nd quarter worth about $42,000. Finally, American Capital Advisory LLC purchased a new stake in Berry Global Group during the 2nd quarter worth approximately $44,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

NYSE BERY opened at $66.33 on Friday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The stock’s fifty day moving average is $67.90 and its two-hundred day moving average is $63.97. The firm has a market capitalization of $7.60 billion, a P/E 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 fifty-two week low of $54.06 and a fifty-two week high of $71.63.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given 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 of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. Berry Global Group’s payout ratio is presently 23.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on BERY. StockNews.com started coverage on Berry Global Group in a research report on Thursday, November 7th. They issued a “hold” rating on the stock. Truist Financial raised 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 started coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Berry Global Group presently has an average rating of “Hold” and an average price target of $71.22.

Insider Activity at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred 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 sale, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.