Berry Global Group, Inc. (NYSE:BERY) Stock Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 77.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,710 shares of the industrial products company's stock after selling 133,705 shares during the period. Thrivent Financial for Lutherans' holdings in Berry Global Group were worth $2,631,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BERY. Quadrature Capital Ltd increased its holdings in Berry Global Group by 11.8% in the first quarter. Quadrature Capital Ltd now owns 8,285 shares of the industrial products company's stock valued at $501,000 after buying an additional 872 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Berry Global Group by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,114 shares of the industrial products company's stock worth $5,390,000 after purchasing an additional 5,731 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Berry Global Group during the 1st quarter worth approximately $288,000. Tidal Investments LLC boosted its position in Berry Global Group by 9.5% during the first quarter. Tidal Investments LLC now owns 15,890 shares of the industrial products company's stock worth $961,000 after acquiring an additional 1,372 shares during the last quarter. Finally, Comerica Bank boosted its position in Berry Global Group by 3.4% during the first quarter. Comerica Bank now owns 91,867 shares of the industrial products company's stock worth $5,556,000 after acquiring an additional 3,055 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BERY. Barclays raised their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a report on Thursday, November 21st. Truist Financial reiterated a "hold" rating and issued a $72.00 price target (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Citigroup reiterated a "neutral" rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.73.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value 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. This represents a 31.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.00% of the company's stock.

Berry Global Group Stock Up 1.2 %

Berry Global Group stock traded up $0.86 during midday trading on Wednesday, hitting $71.59. 1,037,059 shares of the stock were exchanged, compared to its average volume of 1,086,862. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $73.31. The firm has a market cap of $8.20 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 0.26. The company has a 50 day moving average price of $68.37 and a two-hundred day moving average price of $64.60.

Berry Global Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. 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.