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

Swiss National Bank cut its stake in Berry Global Group, Inc. (NYSE:BERY) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,418 shares of the industrial products company’s stock after selling 4,600 shares during the quarter. Swiss National Bank owned about 0.19% of Berry Global Group worth $15,188,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group in the second quarter valued at $27,000. Quest Partners LLC grew its position in shares of Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC grew its position in shares of Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Berry Global Group in the second quarter valued at $42,000. Finally, American Capital Advisory LLC purchased a new position in shares of Berry Global Group in the second quarter valued at $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the business’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 transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BERY has been the subject of several research analyst reports. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Truist Financial reaffirmed a “hold” rating and set a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $75.00 in a research note on Friday. Royal Bank of Canada lifted their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.00.

Berry Global Group Trading Up 1.1 %

NYSE BERY opened at $71.69 on Friday. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year 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 has a 50-day moving average of $68.09 and a 200-day moving average of $64.32. The firm has a market cap 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is 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 25.06%.

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.