Eagle Asset Management Inc. Purchases 24,784 Shares of Berry Global Group, Inc. (NYSE:BERY)

Eagle Asset Management Inc. boosted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 14.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197,222 shares of the industrial products company's stock after acquiring an additional 24,784 shares during the quarter. Eagle Asset Management Inc. owned 0.17% of Berry Global Group worth $13,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its position in Berry Global Group by 16.7% during the first quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company's stock valued at $819,441,000 after purchasing an additional 1,934,137 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company's stock valued at $204,365,000 after buying an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Berry Global Group by 280.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company's stock worth $46,968,000 after buying an additional 588,114 shares during the last quarter. Eminence Capital LP raised its position in Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company's stock valued at $159,751,000 after acquiring an additional 492,793 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Berry Global Group in the second quarter valued at approximately $25,688,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Insiders Place Their Bets

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 sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.00% of the company's stock.

Berry Global Group Price Performance

NYSE BERY traded up $0.78 during trading on Friday, reaching $71.71. 2,533,039 shares of the company traded hands, compared to its average volume of 1,907,863. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $72.50. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 0.41. The stock's 50 day moving average price is $68.22 and its two-hundred day moving average price is $64.40. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.39 and a beta of 1.14.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.31 dividend. 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. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. Berry Global Group's payout ratio is 25.06%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Berry Global Group from a "hold" rating to a "buy" rating in a report on Friday, November 15th. UBS Group downgraded Berry Global Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $82.00 to $75.00 in a research note on Friday. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price objective on the stock. Truist Financial reaffirmed a "hold" rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday. Finally, 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 report on Thursday. Eight 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $72.00.

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.