Principal Financial Group Inc. Sells 115,710 Shares of Berry Global Group, Inc. (NYSE:BERY)

Principal Financial Group Inc. reduced its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 30.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,354 shares of the industrial products company's stock after selling 115,710 shares during the period. Principal Financial Group Inc. owned 0.23% of Berry Global Group worth $18,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BERY. Altshuler Shaham Ltd bought a new stake in Berry Global Group in the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its holdings 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. DekaBank Deutsche Girozentrale bought a new stake in Berry Global Group in the second quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in Berry Global Group during the third quarter valued at $75,000. Finally, GAMMA Investing LLC raised its stake in Berry Global Group by 332.6% during the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 908 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Trading Down 0.1 %

Shares of NYSE:BERY traded down $0.05 on Friday, hitting $65.02. 1,184,771 shares of the company's stock were exchanged, compared to its average volume of 1,122,354. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The business's 50 day simple moving average is $68.52 and its two-hundred day simple moving average is $65.80.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.31 per share. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 1.91%. Berry Global Group's dividend payout ratio (DPR) is presently 28.25%.

Analyst Ratings Changes

Several analysts have recently issued reports on BERY shares. Morgan Stanley assumed coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 target price on the stock. Royal Bank of Canada upped their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. UBS Group lowered Berry Global Group from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, StockNews.com initiated coverage on Berry Global Group in a research report on Friday. They issued a "buy" rating for the company. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $73.40.

Insider Buying and Selling 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 owns 30,228 shares of the company's stock, valued at approximately $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 can be accessed through this link. 4.00% of the stock is owned by corporate 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.