State Street Corp Raises Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

State Street Corp grew its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,831,824 shares of the industrial products company's stock after purchasing an additional 360,857 shares during the period. State Street Corp owned approximately 3.34% of Berry Global Group worth $260,487,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. QRG Capital Management Inc. lifted its holdings in shares of Berry Global Group by 37.3% in the second quarter. QRG Capital Management Inc. now owns 7,828 shares of the industrial products company's stock valued at $461,000 after purchasing an additional 2,126 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Berry Global Group by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company's stock valued at $240,000 after buying an additional 355 shares during the last quarter. Blue Trust Inc. increased its position in Berry Global Group by 68.8% during the second quarter. Blue Trust Inc. now owns 1,536 shares of the industrial products company's stock worth $93,000 after buying an additional 626 shares in the last quarter. Shayne & Jacobs LLC raised its holdings in shares of Berry Global Group by 2.0% in the second quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company's stock worth $1,075,000 after acquiring an additional 360 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Berry Global Group in the second quarter valued at $800,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BERY. UBS Group downgraded shares of Berry Global Group from a "buy" rating to a "neutral" rating and cut their target price for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Citigroup reissued a "neutral" rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial reaffirmed a "hold" rating and issued a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Barclays raised their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Finally, Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $73.73.

Berry Global Group Trading Down 1.0 %

Shares of NYSE:BERY traded down $0.67 during trading on Wednesday, reaching $68.77. 1,613,437 shares of the stock were exchanged, compared to its average volume of 1,110,187. The firm's 50-day moving average price is $68.93 and its 200 day moving average price is $65.36. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.80%. This is a positive change from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's dividend payout ratio is presently 28.25%.

Insider Activity

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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.00% of the company's stock.

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.