Berry Global Group, Inc. (NYSE:BERY) Position Raised by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,497 shares of the industrial products company's stock after purchasing an additional 10,327 shares during the period. Glenmede Trust Co. NA owned about 0.18% of Berry Global Group worth $13,970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new stake in shares of Berry Global Group in the 2nd quarter valued at about $27,000. Quest Partners LLC grew its holdings in shares of 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 acquiring an additional 548 shares during the period. LRI Investments LLC grew its holdings in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company's stock valued at $36,000 after buying an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Berry Global Group during the second quarter worth $42,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Berry Global Group during the second quarter worth $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 target price on the stock. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the stock 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 cut their target price for the stock from $82.00 to $75.00 in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday. Nine investment 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 has an average rating of "Hold" and a consensus price target of $73.73.

Berry Global Group Stock Up 1.1 %

NYSE:BERY traded up $0.78 during mid-day trading on Friday, reaching $72.35. The stock had a trading volume of 1,418,906 shares, compared to its average volume of 1,092,861. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $73.31. The stock's 50 day simple moving average is $68.51 and its two-hundred day simple moving average is $64.70. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.26.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.71%. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group's dividend payout ratio (DPR) is 28.25%.

Insider Buying and Selling

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred on 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 transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.00% of the company's stock.

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.