Securian Asset Management Inc. Sells 248 Shares of Berry Global Group, Inc. (NYSE:BERY)

Securian Asset Management Inc. lessened its position in Berry Global Group, Inc. (NYSE:BERY) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,663 shares of the industrial products company’s stock after selling 248 shares during the quarter. Securian Asset Management Inc.’s holdings in Berry Global Group were worth $560,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after buying an additional 27,437 shares during the period. Sound Income Strategies LLC increased its stake in Berry Global Group by 13.4% in the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after buying an additional 8,622 shares during the period. Hancock Whitney Corp purchased a new position in Berry Global Group in the 3rd quarter worth about $1,065,000. Integrated Investment Consultants LLC purchased a new position in Berry Global Group in the 3rd quarter worth about $714,000. Finally, Barclays PLC increased its stake in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after buying an additional 47,476 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Barclays raised their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada raised their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Citigroup reissued a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Finally, UBS Group raised their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Up 1.7 %

Shares of Berry Global Group stock opened at $70.10 on Monday. The firm’s 50 day moving average price is $69.55 and its 200-day moving average price is $68.48. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $74.24. The company has a market cap of $8.12 billion, a P/E ratio of 17.48, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

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.