Nuveen Asset Management LLC lessened its position in shares of Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,780 shares of the industrial products company’s stock after selling 17,998 shares during the period. Nuveen Asset Management LLC owned approximately 0.18% of Berry Global Group worth $11,017,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ronald Blue Trust Inc. raised its position in shares of Berry Global Group by 33.5% in the third quarter. Ronald Blue Trust Inc. now owns 928 shares of the industrial products company’s stock valued at $51,000 after buying an additional 233 shares in the last quarter. Greenleaf Trust raised its position in Berry Global Group by 5.9% during the second quarter. Greenleaf Trust now owns 4,454 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 247 shares in the last quarter. American International Group Inc. raised its position in Berry Global Group by 19.6% during the second quarter. American International Group Inc. now owns 1,690 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 277 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Berry Global Group by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 8,248 shares of the industrial products company’s stock valued at $509,000 after purchasing an additional 314 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in Berry Global Group by 13.0% during the first quarter. Yousif Capital Management LLC now owns 4,212 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 485 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on BERY. Deutsche Bank Aktiengesellschaft upped their price target on shares of Berry Global Group from $70.00 to $75.00 in a report on Friday, February 3rd. Truist Financial downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a report on Thursday, January 5th. Morgan Stanley boosted their price objective on shares of Berry Global Group from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. Finally, UBS Group boosted their price objective on shares of Berry Global Group from $69.00 to $75.00 in a research note on Friday, November 25th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Moderate Buy” and an average target price of $71.75.
Berry Global Group Trading Down 1.3 %
Berry Global Group (NYSE:BERY – Get Rating) last posted its earnings results on Thursday, February 2nd. The industrial products company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.34 billion. Berry Global Group had a net margin of 5.37% and a return on equity of 30.05%. The firm’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. As a group, research analysts predict that Berry Global Group, Inc. will post 7.43 earnings per share for the current fiscal year.
Berry Global Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.00 annualized dividend and a yield of 1.65%. Berry Global Group’s dividend payout ratio (DPR) is 17.30%.
Insider Buying and Selling at Berry Global Group
In other Berry Global Group news, CFO Mark W. Miles sold 37,942 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $61.27, for a total value of $2,324,706.34. Following the completion of the sale, the chief financial officer now owns 47,058 shares in the company, valued at approximately $2,883,243.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.30% of the company’s stock.
Berry Global Group Company Profile
Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.
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