Massachusetts Financial Services Co. MA Sells 393,650 Shares of Berry Global Group, Inc. (NYSE:BERY)

Massachusetts Financial Services Co. MA reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,867,433 shares of the industrial products company's stock after selling 393,650 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.50% of Berry Global Group worth $194,928,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company's stock worth $2,271,000 after purchasing an additional 9,483 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Berry Global Group by 39.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,172 shares of the industrial products company's stock valued at $1,162,000 after buying an additional 5,466 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Berry Global Group by 11.8% in the 1st 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. LRI Investments LLC acquired a new stake in shares of Berry Global Group during the 1st quarter valued at about $38,000. Finally, BOKF NA boosted its position in shares of Berry Global Group by 26.3% during the 1st quarter. BOKF NA now owns 79,330 shares of the industrial products company's stock valued at $4,809,000 after acquiring an additional 16,497 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction 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 sale, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by company insiders.

Berry Global Group Trading Up 1.1 %

Shares of BERY stock traded up $0.78 on Friday, reaching $71.71. 2,533,039 shares of the stock were exchanged, compared to its average volume of 1,907,863. The stock has a 50 day moving average price of $68.22 and a 200 day moving average price of $64.40. The stock has a market cap of $8.22 billion, a PE ratio of 16.33, a P/E/G ratio of 1.39 and a beta of 1.14. Berry Global Group, Inc. has a one year low of $54.06 and a one year high of $72.50. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.41 and a quick ratio of 1.08.

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 given a dividend of $0.31 per share. This is a boost from Berry Global Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group's payout ratio is currently 25.06%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BERY shares. StockNews.com upgraded Berry Global Group from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Royal Bank of Canada upped their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a report on Thursday. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price target on the stock. Truist Financial reiterated a "hold" rating and issued a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research note on Wednesday. Finally, UBS Group lowered 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 report on Friday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Berry Global Group has a consensus rating of "Hold" and an average target price 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.