Fmr LLC Purchases 1,055,756 Shares of Berry Global Group, Inc. (NYSE:BERY)

FMR LLC raised its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 38.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,807,317 shares of the industrial products company's stock after acquiring an additional 1,055,756 shares during the period. FMR LLC owned about 3.32% of Berry Global Group worth $258,821,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. grew its stake in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company's stock worth $879,391,000 after purchasing an additional 1,393,955 shares during the period. Dimensional Fund Advisors LP increased 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 acquiring an additional 807,211 shares during the last quarter. Eminence Capital LP raised its position in shares of Berry Global Group by 22.2% in the 2nd 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 during the period. AQR Capital Management LLC boosted its stake in Berry Global Group by 29.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,438,866 shares of the industrial products company's stock worth $84,677,000 after acquiring an additional 325,562 shares during the last quarter. Finally, Khrom Capital Management LLC grew its holdings in Berry Global Group by 15.2% during the second quarter. Khrom Capital Management LLC now owns 1,240,083 shares of the industrial products company's stock valued at $72,979,000 after purchasing an additional 163,613 shares during the period. Institutional investors and hedge funds own 95.36% of the company's stock.

Insiders Place Their Bets

In other news, Director Evan Bayh sold 14,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was 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 in the company, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Berry Global Group Price Performance

Berry Global Group stock traded down $0.83 during mid-day trading on Monday, reaching $71.17. The company had a trading volume of 1,253,360 shares, compared to its average volume of 1,092,969. The company has a current ratio of 1.25, a quick ratio of 0.26 and a debt-to-equity ratio of 2.08. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The business has a fifty day simple moving average of $68.62 and a 200 day simple moving average of $64.86. The company has a market cap of $8.20 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.44 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given 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 is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.74%. Berry Global Group's dividend payout ratio is presently 28.25%.

Wall Street Analyst Weigh In

A number of analysts recently commented on BERY shares. Citigroup restated a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Barclays raised their price target 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. 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 research note on Monday, November 25th. StockNews.com raised shares of Berry Global Group from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. Finally, Truist Financial restated a "hold" rating and set a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $73.73.

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.