Fifth Third Bancorp Has $6.49 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Fifth Third Bancorp lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 54.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 100,407 shares of the industrial products company’s stock after selling 121,979 shares during the period. Fifth Third Bancorp’s holdings in Berry Global Group were worth $6,493,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EdgePoint Investment Group Inc. grew its position in Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after acquiring an additional 336,186 shares during the last quarter. State Street Corp grew its holdings in Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares during the last quarter. FMR LLC increased its position in Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares during the period. Geode Capital Management LLC raised its stake in shares of Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after acquiring an additional 27,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Berry Global Group by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 835,915 shares of the industrial products company’s stock worth $56,826,000 after purchasing an additional 18,736 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Truist Financial increased their price objective on Berry Global Group from $72.00 to $74.00 and gave the company a “hold” rating in a report on Monday, January 6th. 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 research report on Wednesday, November 27th. StockNews.com started coverage on Berry Global Group in a report on Monday, January 20th. They issued a “buy” rating on the stock. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Royal Bank of Canada lifted 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 research note on Thursday, November 21st. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Trading Down 0.3 %

Shares of Berry Global Group stock opened at $68.25 on Monday. The stock has a market capitalization of $7.90 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. Berry Global Group, Inc. has a 52 week low of $54.06 and a 52 week high of $73.31. The stock has a 50 day moving average price of $67.60 and a two-hundred day moving average price of $66.90. 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 declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio is 28.25%.

Berry Global Group 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.