Berry Global Group, Inc. (NYSE:BERY) Stock Position Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 427,485 shares of the industrial products company's stock after selling 31,582 shares during the period. JPMorgan Chase & Co. owned about 0.37% of Berry Global Group worth $29,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Altshuler Shaham Ltd acquired a new position in Berry Global Group during the 2nd quarter worth $27,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company's stock worth $32,000 after purchasing an additional 548 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group in the second quarter worth about $42,000. Capital Performance Advisors LLP bought a new stake in Berry Global Group in the third quarter valued at about $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 buying an additional 908 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Berry Global Group

In related 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 transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares of the company's stock, valued at $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.00% of the company's stock.

Berry Global Group Stock Performance

Shares of BERY traded up $0.34 during trading hours on Wednesday, reaching $66.25. 1,387,388 shares of the company's stock traded hands, compared to its average volume of 1,215,158. Berry Global Group, Inc. has a twelve month low of $54.06 and a twelve month high of $73.31. The business's fifty day simple moving average is $67.84 and its two-hundred day simple moving average is $66.16. 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 firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.38 and a beta of 1.16.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Berry Global Group's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. Berry Global Group's dividend payout ratio (DPR) is 28.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial boosted their target price on shares of Berry Global Group from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday. Citigroup restated a "neutral" rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada increased their price target 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. Finally, StockNews.com assumed coverage on Berry Global Group in a research note on Saturday. They set a "buy" rating for the company. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $73.60.

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.