JPMorgan Chase & Co. Lowers Holdings in Berry Global Group, Inc. (NYSE:BERY)

JPMorgan Chase & Co. reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,485 shares of the industrial products company’s stock after selling 31,582 shares during the quarter. JPMorgan Chase & Co.’s holdings in Berry Global Group were worth $29,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group during the second quarter worth $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 worth $32,000 after purchasing an additional 548 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group during the 2nd quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group during the third quarter valued at about $75,000. Finally, GAMMA Investing LLC increased its holdings in shares of Berry Global Group by 332.6% in the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 908 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the business’s 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 completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BERY shares. Royal Bank of Canada increased their price target on 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Barclays lifted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Truist Financial upped their target price on shares of Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.60.

Berry Global Group Price Performance

BERY stock opened at $66.03 on Wednesday. The stock has a market cap of $7.61 billion, a PE ratio of 15.04, a P/E/G ratio of 1.38 and a beta of 1.16. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The company has a 50-day moving average price of $67.84 and a 200 day moving average price of $66.16. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was 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 28.25%.

About Berry Global Group

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.