Allspring Global Investments Holdings LLC Acquires 37,242 Shares of Berry Global Group, Inc. (NYSE:BERY)

Allspring Global Investments Holdings LLC increased its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 835,334 shares of the industrial products company's stock after purchasing an additional 37,242 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.73% of Berry Global Group worth $56,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC bought a new position in shares of Berry Global Group during the first quarter worth approximately $1,492,000. Thompson Investment Management Inc. increased its stake in Berry Global Group by 74.0% during the 1st quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company's stock worth $6,595,000 after acquiring an additional 46,379 shares during the period. Sei Investments Co. raised its holdings in Berry Global Group by 8.3% in the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company's stock valued at $9,774,000 after acquiring an additional 12,385 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company's stock valued at $7,767,000 after acquiring an additional 13,398 shares during the period. Finally, 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. 95.36% of the stock is currently owned by institutional investors.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the firm's 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 transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Berry Global Group Trading Down 0.6 %

Shares of BERY stock traded down $0.43 during mid-day trading on Tuesday, hitting $68.94. The company's stock had a trading volume of 595,111 shares, compared to its average volume of 987,449. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $70.86. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The company's fifty day simple moving average is $67.18 and its 200-day simple moving average is $62.66. The company has a market cap of $7.89 billion, a PE ratio of 16.48, a P/E/G ratio of 1.10 and a beta of 1.15.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $1.90 EPS. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities research analysts expect that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group's dividend payout ratio is currently 26.13%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Berry Global Group from $68.00 to $74.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. UBS Group cut their price objective on Berry Global Group from $89.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. StockNews.com downgraded Berry Global Group from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $76.00 target price on the stock. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $71.22.

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.